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China's overnight Shibor interbank rate increases Friday

BEIJING
2023-07-28 12:05

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BEIJING, July 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 7.7 basis points to 1.473 percent Friday.

The seven-day rate gained 0.8 basis points to 1.826 percent, the one-month rate stayed flat at 2.066 percent, and the one-year rate dropped 0.1 basis points to 2.337 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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