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BEIJING, Dec. 16 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 30.4 basis points to 2.437 percent Monday.
The seven-day rate raised 5.75 basis points to 2.532 percent. The one-month rate went up 1.74 basis points to 2.93 percent, and the one-year rate stayed unchanged at 3.122 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank 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.
