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China's overnight Shibor interbank rate surges Thursday

2019-08-08 11:31

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BEIJING, Aug. 8 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 28 basis points to 2.5 percent Thursday.

The seven-day Shibor rose 5.8 basis points to 2.578 percent, and the two-week rate edged up 0.5 basis points to 2.438 percent. The one-month Shibor fell 0.2 basis points to 2.562 percent.

The three-month rate slipped 0.5 basis points to 2.618 percent while the six-month rate stays the same as previous day.

The nine-month rate went down 0.1 basis points to 3.004 percent, while the one-year rate declined 0.25 basis points to 3.081 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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