BEIJING, Feb. 25 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 19.1 basis points to 1.703 percent Thursday.
The seven-day rate rose 10.1 basis points to 2.215 percent, the one-month rate went down 0.6 basis points to 2.721 percent, and the one-year rate rose 0.7 basis points to 3.101 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
