BEIJING, Jan. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 27.7 basis points to 1.656 percent Thursday.
The seven-day rate rose 14.6 basis points to 2.281 percent, the one-month rate went up 0.6 basis points to 2.291 percent, and the one-year rate rose 0.5 basis points to 2.584 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, with the four highest and four lowest quotations excluded.
