BEIJING, Nov. 25 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 25 basis points to 1.578 percent Wednesday.
The seven-day rate dropped 0.8 basis points to 2.224 percent, the one-month rate edged up 0.3 basis points to 2.716 percent, and the one-year rate rose 1.1 basis points to 3.266 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. Enditem
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