BEIJING, April 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 0.8 basis points to 1.788 percent Tuesday.
The seven-day rate dropped 0.7 basis points to 1.824 percent, the one-month rate went down 0.9 basis points to 1.963 percent, and the one-year rate dropped 1.7 basis points to 2.091 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. ■
