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China's overnight Shibor interbank rate increases Monday

BEIJING
2022-02-14 11:52

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BEIJING, Feb. 14 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 5.4 basis points to 1.866 percent Monday.

The seven-day rate edged up 0.2 basis points to 2.023 percent, the one-month rate went down 1 basis points to 2.359 percent, and the one-year rate dropped 0.9 basis points to 2.62 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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