The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 33.3 basis points to 1.906 percent Monday.

The seven-day rate declined 0.8 basis points to 2.341 percent, the one-month rate went up 0.3 basis point to 2.755 percent, and the one-year rate increased 1.1 basis points to 3.024 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.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

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