The seven-day rate dropped 2.9 basis points to 1.777 percent, the one-month rate went down 1.1 basis points to 2.045 percent, and the one-year rate edged down 0.2 basis points to 2.335 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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