BEIJING, March 31 (silubaba) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 100.2 basis points to 1.838 percent Friday.
The seven-day rate rose 7.1 basis points to 2.215 percent, the one-month rate stayed flat at 2.4 percent, and the one-year rate edged down 0.1 basis points to 2.666 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. ■
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