The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 6.4 basis points to 1.302 percent Tuesday.
The seven-day rate dropped 1.8 basis points to 2.101 percent, the one-month rate edged up 0.2 basis points to 2.702 percent, and the one-year rate edged up 0.2 basis points to 3.259 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
