Overnight Shibor rises by 16.55 basis points

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 16.55 basis points to 2.750 percent on Tuesday. The seven-day Shibor increased 2.1 basis points to 2.699 percent, while the two-week rate was up 9.5 basis points to 2.784 percent. The one-month Shibor went up 3.9 basis points to 2.756 percent, with the three-month rate and the sixmonth rate remaining unchanged at 2.9 percent and 2.95 percent, respectively. The nine-month rate edged up 0.5 basis points to 3.056 percent, and the one-year rate rose one basis point to 3.177 percent.