BEIJING, Feb. 18 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 7.8 basis points to 1.503 percent Tuesday.
The seven-day rate raised 3.2 basis points to 2.293 percent, the one-month rate went down 1.3 basis points to 2.387 percent, and the one-year rate dropped 2.1 basis points to 2.786 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.
