BEIJING, April 6 (Xinhua/APP): The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 54 basis points to 1.848 percent Wednesday.
The seven-day rate raised 16.7 basis points to 2.004 percent, the one-month rate edged down 0.1 basis points to 2.305 percent, and the one-year rate edged down 0.1 basis points to 2.605 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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