BEIJING, Aug. 26 (Xinhua/APP): The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 10.5 basis points to 1.258 percent Friday.
The seven-day rate rose 23 basis points to 1.745 percent, the one-month rate went up 0.5 basis points to 1.495 percent, and the one-year rate rose 0.6 basis points to 1.969 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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