BEIJING, Jan. 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, stayed flat at 1.76 percent Tuesday.
The seven-day rate dropped 3.7 basis points to 1.807 percent, the one-month rate remained flat at 2.3 percent, and the one-year rate stayed flat at 2.468 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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