BEIJING, Aug. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 19.5 basis points to 1.667 percent Tuesday.
The seven-day rate dropped 6.7 basis points to 1.869 percent, the one-month rate edged up 0.1 basis points to 1.824 percent, and the one-year rate rose 0.5 basis points to 1.95 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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