BEIJING, March 4 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 22.2 basis points to 1.933 percent Monday.
The seven-day Shibor decreased 13.1 basis points to 2.38 percent, while the two-week rate was down 14.1 basis points to 2.424 percent. The one-month Shibor dropped 0.4 basis points to 2.696 percent, the three-month rate was flat at 2.75 percent, and the six-month rate remained unchanged at 2.85 percent. The nine-month rate was flat at 2.95 percent, and the one-year rate decreased 0.1 basis point to 3.058 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, excluding the four highest and four lowest quotations.
The seven-day Shibor decreased 13.1 basis points to 2.38 percent, while the two-week rate was down 14.1 basis points to 2.424 percent. The one-month Shibor dropped 0.4 basis points to 2.696 percent, the three-month rate was flat at 2.75 percent, and the six-month rate remained unchanged at 2.85 percent. The nine-month rate was flat at 2.95 percent, and the one-year rate decreased 0.1 basis point to 3.058 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, excluding the four highest and four lowest quotations.
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