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China's overnight Shibor interbank rate decreases Thursday

BEIJING
2022-03-03 14:35

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BEIJING, March 3 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 15.8 basis points to 1.729 percent Thursday.

The seven-day rate dropped 4.1 basis points to 2.005 percent, the one-month rate edged down 0.2 basis points to 2.3 percent, and the one-year rate edged up 0.3 basis points to 2.566 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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