BEIJING, March 8 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 1.7 basis points to 2.056 percent Tuesday.
The seven-day rate rose 4.6 basis points to 2.114 percent, the one-month remained flat at 2.3 percent, and the one-year rate edged up 0.2 basis points to 2.568 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.
A single purchase
