BEIJING, March 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 44.5 basis points to 2.486 percent Friday.
The seven-day Shibor dropped 0.7 basis points to 2.698 percent, while the two-week rate was down 1.2 basis points to 2.911 percent.
The one-month Shibor fell 0.6 basis points to 2.819 percent, the three-month rate was down 0.6 basis points to 2.801 percent, and the six-month rate edged down 0.7 basis points to stand at 2.841 percent.
The nine-month rate decreased 0.7 basis points to 2.924 percent, and the one-year rate was down 1.1 basis points to 3.051 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.
