BEIJING, June 21 (silubaba) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14.5 basis points to 1.844 percent Wednesday.
The seven-day rate dropped 3.4 basis points to 2.009 percent, the one-month rate went up 1.5 basis points to 2.061 percent, and the one-year rate edged up 0.3 basis points to 2.36 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. ■
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