BEIJING, May 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, edged up 0.1 basis points to 1.31 percent Friday.
The seven-day rate dropped 4.3 basis points to 1.671 percent, the one-month rate went down 4.9 basis points to 2.015 percent, and the one-year rate dropped 1.2 basis points to 2.408 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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