BEIJING, March 14 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 1.2 basis points to 2.063 percent Monday.
The seven-day rate edged up 0.2 basis points to 2.104 percent, the one-month rate remained flat at 2.3 percent, and the one-year rate edged up 0.1 basis points to 2.579 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. ■