BEIJING, Nov. 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 5 basis points to 1.849 percent Thursday.
The seven-day Shibor was down 7.1 basis points to 2.426 percent. The one-month rate eased 0.05 basis points to 2.795 percent, and the one-year rate inched up 0.2 basis points to 3.127 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. Enditem
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