BEIJING, Feb. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 12.3 basis points to 1.626 percent Wednesday.

The seven-day rate dropped 2.5 basis points to 2.268 percent. The one-month rate went down 1.6 basis points to 2.371 percent, and the one-year rate dropped 1.3 basis points to 2.773 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.

(Photo: VCG)