BEIJING, Nov. 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 15.5 basis points to 2.078 percent Thursday.
The seven-day rate gained 0.8 basis points to 2.597 percent. The one-month rate edged down 0.2 basis points to 2.7795 percent, and the one-year rate was flat at 3.119 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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