BEIJING, Feb. 22 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 5.5 basis points to 1.512 percent Monday.

The seven-day rate rose 24.2 basis points to 2.206 percent, the one-month rate went up 0.2 basis points to 2.74 percent, and the one-year rate rose 1.3 basis points to 3.076 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.