BEIJING, Aug. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 2.4 basis points to 1.211 percent Friday.
The seven-day rate rose 3 basis points to 1.509 percent, the one-month rate edged up 0.1 basis points to 1.492 percent, and the one-year rate stayed flat at 1.961 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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