BEIJING, Sept. 6 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 17.2 basis points to 2.115 percent Monday.
The seven-day rate rose 9.2 basis points to 2.151 percent, the one-month rate went down 0.3 basis points to 2.307 percent, and the one-year rate edged down 0.1 basis points to 2.698 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
