BEIJING, April 8 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 6.4 basis points to 1.76 percent Thursday.
The seven-day rate rose 7.5 basis points to 2.014 percent, the one-month rate went down 0.9 basis points to 2.523 percent, and the one-year rate dropped 0.6 basis points to 3.062 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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