BEIJING, Jan. 24 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, fell 12.8 basis points to 1.935 percent Monday.
The seven-day rate went up 2 basis points to 2.132 percent, the one-month rate edged up 0.1 basis points to 2.418 percent, and the one-year rate went down 0.4 basis points to 2.678 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. ■
