BEIJING, Aug. 20 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 3 basis points to 1.712 percent Tuesday.
The seven-day rate rose 3.9 basis points to 1.761 percent, the one-month rate edged up 0.2 basis points to 1.812 percent, and the one-year rate edged up 0.4 basis points to 1.926 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. ■
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