Beijing, Oct 30: The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 11.1 basis points to 2.236 percent Friday.
The seven-day rate rose 6.5 basis points to 2.418 percent, the one-month rate edged down 0.1 basis points to 2.689 percent, and the one-year rate rose 1.3 basis points to 3.18 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.
(AGENCIES)
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