China's overnight Shibor interbank rate increases Tuesday

BEIJING - The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 35.5 basis points to 1.925 percent Tuesday.

The seven-day rate rose 10 basis points to 2.143 percent, the one-month rate edged up 0.4 basis points to 2.286 percent, and the one-year rate rose 0.9 basis points to 2.837 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.