BEIJING, Dec. 9 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 3.8 basis points to 1.516 percent Monday.

The seven-day rate rose 5 basis points to 1.736 percent, the one-month rate edged down 0.1 basis points to 1.71 percent, and the one-year rate edged down 0.3 basis points to 1.8 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. Enditem

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