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China's overnight Shibor interbank rate rises Tuesday

2019-07-09 11:28

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BEIJING, July 9 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 32.8 basis points to 1.773 percent Tuesday.

The seven-day Shibor rose 9.1 basis points to 2.54 percent, while the two-week rate went up 26.6 basis points to 2.374 percent. The one-month Shibor increased 1.7 basis points to 2.484 percent. The three-month rate edged down 0.2 basis points to 2.601 percent and the six-month rate dropped 0.5 basis points to 2.702 percent. The nine-month rate went down 0.3 basis points to 3.019 percent, while the one-year rate rose 0.1 basis points to 3.087 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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