China's overnight Shibor rate rises Tuesday

BEIJING, March 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, climbed 27.3 basis points to 2.365 percent Tuesday.

The seven-day Shibor increased 20.6 basis points to 2.601 percent, while the two-week rate was up 2.52 basis points to 2.458 percent.

The one-month Shibor added 1.48 basis points to 2.732 percent, the three-month rate also edged up 0.45 basis points to 2.761 percent, and the six-month rate edged up 0.1 basis points to 2.851 percent.

The nine-month rate remained the same at 2.95 percent, and the one-year rate was up 0.6 basis points to 3.066 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.