BEIJING, April 16 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 8.6 basis points to 2.883 percent Tuesday.
The seven-day Shibor rose 1.5 basis points to 2.787 percent, while the two-week rate was up 8 basis points to 2.982 percent.
The one-month Shibor increased 4.2 basis points to 2.759 percent, with the three-month rate up 0.6 basis points to 2.774 percent, and the six-month rate up 0.3 basis points to stand at 2.853 percent.
The nine-month rate went up 0.8 basis points to 2.947 percent, and the one-year rate was up 0.5 basis points to 3.077 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.
LINK ORIGINAL: Xinhuanet