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China's overnight Shibor interbank rate increases Monday

BEIJING
2024-03-11 11:58

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BEIJING, March 11 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 1.1 basis points to 1.731 percent Monday.

The seven-day rate rose 0.5 basis points to 1.853 percent, the one-month rate edged down 0.1 basis points to 2.086 percent, and the one-year rate edged down 0.3 basis points to 2.257 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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