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China's overnight Shibor interbank rate increases Wednesday

2020-03-25 11:41

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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 3.3 basis points to 0.847 percent Wednesday.

The seven-day rate raised 5.2 basis points to 1.745 percent, the one-month rate went down 4.1 basis points to 1.897 percent, and the one-year rate dropped 3.7 basis points to 2.355 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.
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