Most UAE interbank offered rates (EIBOR) rose on Sunday as the Central Bank introduced a new way of calculating them, seeking to make the system more transparent and reflect market conditions more accurately. The one-month rate edged up to 1.93500% from 1.92667% on Thursday, while the one-year rate rose to 3.03998% from 2.93767%. Only the overnight rate fell to 1.36775% from 1.50500%. The new system shrinks the panel of banks from which quotes are used to calculate the rates to eight from 10, and increases pressure on the banks to give reasons for each of their quotes.