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China's overnight Shibor interbank rate drops Friday

BEIJING
2019-07-05 11:24

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BEIJING, July 5 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 21.1 basis points to 1.055 percent Friday.

The seven-day Shibor rose 13.2 basis points to 2.271 percent, while the two-week rate went up 0.7 basis points to 2.066 percent.

The one-month Shibor shrank 0.2 basis points to 2.463 percent, while the three-month rate went down 2.1 basis points to 2.606 percent and the six-month rate dropped 2.1 basis points to 2.712 percent.

The nine-month rate edged down 0.8 basis points to 3.024 percent, and the one-year rate dropped 1 basis point at 3.084 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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