BEIJING, July 5 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 5.1 basis points to 1.665 percent Monday.
The seven-day rate rose 8.9 basis points to 2.034 percent, the one-month rate edged down 0.3 basis points to 2.382 percent, and the one-year rate edged down 0.3 basis points to 2.896 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
