BEIJING:The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, rose 0.3 basis points to 1.306 percent Tuesday.
The seven-day rate dropped 3.1 basis points to 1.681 percent, the one-month rate went down 1.5 basis points to 2.166 percent, and the one-year rate dropped 0.9 basis points to 2.507 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.