BEIJING, Dec. 11 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 5.8 basis points to 1.528 percent Wednesday.
The seven-day rate dropped 6.2 basis points to 1.722 percent, the one-month rate remained flat at 1.711 percent, and the one-year rate dropped 0.8 basis points to 1.785 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. ■
