China's overnight Shibor interbank rate rises Thursday

BEIJING - The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost on China's interbank market, rose 17.6 basis points to 2.03 percent Thursday.

The seven-day Shibor increased 2.2 basis points to 2.399 percent, while the two-week rate was up 1.1 basis points to 2.409 percent.

The one-month Shibor dropped 0.4 basis point to 2.651 percent, the three-month rate fell 1 basis point to 2.749 percent, and the six-month rate declined 0.6 basis point to 2.858 percent.

The nine-month rate decreased 0.8 basis point to 2.958 percent, and the one-year rate was down 0.6 basis point to 3.063 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.