China's overnight Shibor interbank rate falls Tuesday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 20 basis points to 1.601 percent on Tuesday.

The seven-day Shibor fell 9.2 basis points to 2.399 percent, while the two-week rate was up 5.3 basis points to 2.722 percent.

The one-month Shibor edged down 0.1 basis points to 2.897 percent, with the three-month rate down 0.4 basis points to 2.943 percent and the six-month rate down 1.1 basis points to 2.98 percent.

The nine-month rate edged up 0.1 basis points to 3.122 percent, and the one-year rate increased 0.3 basis points to 3.231 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.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan