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China's overnight Shibor interbank rate drops Thursday

BEIJING
2019-06-27 11:32

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BEIJING, June 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 2.95 basis points to 0.9615 percent Thursday.

The seven-day rate rose 19.3 basis points to 2.61 percent. The one-month rate went down 2.8 basis points to 2.703 percent, and the one-year rate dropped 0.7 basis points to 3.105 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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