The seven-day Shibor dropped 15.4 basis points to 2.399 percent, while the two-week rate was down 15.7 basis points to 2.414 percent. The one-month Shibor went up 1.2 basis points to 2.821 percent, with the three-month rate dropping 0.2 basis points to 2.902 percent and the six-month rate down 0.4 basis points to 2.953 percent. The nine-month rate edged up 0.1 basis point to 3.108 percent, and the one-year rate remained unchanged at 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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