BEIJING, April 19 (silubaba) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 8.3 basis points to 2.13 percent Wednesday.
The seven-day rate rose 1.9 basis points to 2.097 percent, the one-month rate remained flat at 2.31 percent and the one-year rate remained flat at 2.65 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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