BEIJING, Feb. 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 3.9 basis points to 1.521 percent Wednesday.
The seven-day rate gained 6.1 basis points to 2.286 percent, The one-month rate went down 3.2 basis points to 2.495 percent, and the one-year rate dropped 1.1 basis points to 2.845 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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