BEIJING, April 25 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 6.2 basis points to 1.846 percent Thursday.
The seven-day rate rose 3 basis points to 1.885 percent, the one-month rate edged down 0.3 basis points to 1.956 percent, and the one-year rate dropped 1 basis points to 2.074 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. ■