BEIJING -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 12.1 basis points to 0.864 percent Friday.

The seven-day rate raised 14.3 basis points to 1.657 percent. The one-month rate stayed flat at 1.3 percent, and the one-year rate edged up 0.2 basis points to 1.7 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.