BEIJING, Nov. 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 20.7 basis points to 2.521 percent Thursday.
The seven-day rate rose 2.9 basis points to 2.335 percent, the one-month rate went up 2.5 basis points to 2.671 percent, and the one-year rate rose 0.3 basis points to 3.204 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
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