BEIJING, Oct. 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 42.1 basis points to 1.683 percent Thursday.
The seven-day rate dropped 16.6 basis points to 2.055 percent, the one-month rate edged up 0.3 basis points to 2.366 percent, and the one-year rate rose 0.7 basis points to 2.753 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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