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China's overnight Shibor interbank rate decreases Wednesday

BEIJING
2021-11-10 11:40

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BEIJING, Nov. 10 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 30.4 basis points to 1.833 percent Wednesday.

The seven-day rate dropped 4.9 basis points to 2.142 percent, the one-month rate edged down 0.1 basis points to 2.398 percent, and the one-year rate dropped 0.5 basis points to 2.769 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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