China's overnight Shibor interbank rate rises Monday

BEIJING, Aug. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 0.1 basis points to 2.666 percent Monday.

The seven-day Shibor edged down 0.1 basis points to 2.672 percent. The one-month rate climbed 0.3 basis points to 2.656 percent, while the one-year rate dropped 0.35 basis points to 3.074 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.