The seven-day Shibor dropped 9.7 basis points to 2.553 percent, while the two-week rate was down 23 basis points to 2.571 percent. The one-month Shibor went down 0.7 basis points to 2.809 percent, with the three-month rate and the six-month rate down 0.8 basic points and 0.6 basic points, respectively. The nine-month rate fell by 0.3 basis points to 3.107 percent, and the one-year rate edged up 0.2 basis points to 3.208 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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