BEIJING, Feb. 20 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 2.3 basis points to 1.63 percent Tuesday.
The seven-day rate edged up 0.2 basis points to 1.787 percent, the one-month rate went down 2 basis points to 2.166 percent, and the one-year rate dropped 1.7 basis points to 2.366 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. ■