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China's overnight Shibor interbank rate drops Monday

2019-08-05 11:40

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BEIJING, Aug. 5 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 9 basis points to 2.544 percent Monday.

The seven-day Shibor declined 2.8 basis points to 2.619 percent. The one-month rate edged down 0.6 basis points to 2.594 percent, and the one-year rate declined 0.2 basis points to 3.094 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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