China's overnight Shibor interbank rate decreases Monday

BEIJING, Nov. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 2.8 basis points to 1.809 percent Monday.

The seven-day rate dropped 10.1 basis points to 2.094 percent, the one-month rate went up 1.9 basis points to 2.255 percent, and the one-year rate edged up 0.2 basis points to 2.563 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.