The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 3.4 basis points to 1.374 percent Friday.
The seven-day rate rose 1.9 basis points to 1.997 percent, the one-month rate went down 0.8 basis points to 2.322 percent, and the one-year rate inched up 0.1 basis point to 2.649 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.