BEIJING, March 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1 basis point to 1.721 percent Tuesday.

The seven-day rate stayed the same at 1.853 percent, the one-month rate went up 0.5 basis points to 2.091 percent, and the one-year rate edged up 0.4 basis points to 2.261 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

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