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BEIJING, Aug. 16 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 0.6 basis points to 2.665 percent Friday.
The seven-day Shibor dipped 0.5 basis points to 2.673 percent. The one-month rate climbed 0.4 basis points to 2.653 percent, while the one-year rate dropped 0.5 basis points to 3.0775 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
