China's overnight Shibor interbank rate drops Friday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 20.1 basis points to 1.723 percent Friday.

The seven-day Shibor fell 1.8 basis points to 2.565 percent, while the two-week rate was up 1.4 basis points to 2.454 percent.

The one-month Shibor rose 2 basis points to 2.898 percent, with the three-month rate up 0.3 basis points to 2.947 percent and the six-month rate up 0.4 basis points to 2.986 percent.

The nine-month rate edged up 0.1 basis points to 3.12 percent, and the one-year rate increased 0.5 basis points to 3.225 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.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan