BEIJING, April 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 1.7 basis points to 1.823 percent Monday.
The seven-day rate rose 12.9 basis points to 2.08 percent, the one-month rate went up 1.2 basis points to 1.962 percent, and the one-year rate rose 2.5 basis points to 2.112 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. ■
