China's overnight Shibor interbank rate increases Tuesday

BEIJING, April 9 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 0.7 basis points to 1.718 percent Tuesday.
The seven-day rate edged up 0.1 basis points to 1.816 percent, the one-month rate went down 1.2 basis points to 2.05 percent, and the one-year rate dropped 1.1 basis points to 2.236 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. Enditem