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China's overnight Shibor interbank rate drops Thursday

2019-06-13 11:43

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BEIJING, June 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.5 basis points to 1.924 percent Thursday.

The seven-day Shibor rose 1.9 basis points to 2.583 percent, while the two-week rate edged up 0.1 basis points to 2.44 percent.

The one-month Shibor went up 1.3 basis points to 2.878 percent, with the three-month rate up 0.1 basis points to 2.944 percent and the six-month rate up 0.6 basis points to 2.982 percent.

The nine-month rate edged up 0.3 basis points to 3.119 percent, and the one-year rate increased 0.3 basis points at 3.22 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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