The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined 3.4 basis points to 0.874 percent Monday.
The seven-day rate climbed 11.6 basis points to 1.774 percent, the one-month rate edged down 0.1 basis points to 1.307 percent, and the one-year rate was flat at 1.682 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
