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China's overnight Shibor interbank rate drops Monday

BEIJING
2019-07-29 11:27

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BEIJING, July 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 0.7 basis points to 2.629 percent Monday.

The seven-day Shibor rose 1.0 basis points to 2.657 percent. The one-month rate edged up 0.3 basis points to 2.6 percent, and the one-year rate rose 0.2 basis points to 3.098 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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