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China's overnight Shibor interbank rate increases Tuesday

BEIJING
2019-05-28 11:31

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BEIJING, May 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 9.4 basis points to 2.76 percent Tuesday.

The seven-day Shibor rose 11.2 basis points to 2.823 percent, while the two-week rate increased 15.2 basis points to 2.955 percent. The one-month Shibor went up 2.4 basis points to 2.816 percent. The three-month rate increased 1.1 basis points to 2.915 percent and the six-month rate was up 0.9 basis points to 2.965 percent. The nine-month rate rose 1.2 basis points to 3.105 percent, and the one-year rate went up 0.3 basis points to 3.205 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging interbank lending rates offered by a price quotation group of 18 commercial banks, with the four highest and four lowest quotations excluded.
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