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China's overnight Shibor interbank rate rises Monday

2019-07-08 11:45

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BEIJING, July 8 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 39 basis points to 1.445 percent Monday.

The seven-day Shibor rose 17.8 basis points to 2.449 percent, while the two-week rate went up 4.2 basis points to 2.108 percent. The one-month Shibor increased 0.4 basis points to 2.467 percent, while the three-month rate went down 0.3 basis points to 2.603 percent and the six-month rate dropped 0.5 basis points to 2.707 percent. The nine-month rate edged down 0.2 basis points to 3.022 percent, while the one-year rate rose 0.2 basis points to 3.086 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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