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China's overnight Shibor interbank rate drops Wednesday

2019-05-29 11:43

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BEIJING, May 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 26.9 basis points to 2.491 percent Wednesday.

The seven-day rate dropped 3.8 basis points to 2.785 percent. The one-month rate went up 0.2 basis points to 2.818 percent, and the one-year rate rose 0.1 basis points to 3.206 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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