BEIJING, Jan. 18 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 38.7 basis points to 2.125 percent Monday.
The seven-day rate rose 5.3 basis points to 2.177 percent, the one-month rate went down 0.2 basis points to 2.388 percent, and the one-year rate dropped 0.2 basis points to 2.857 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
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