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China's overnight Shibor interbank rate drops Wednesday

BEIJING
2019-08-21 12:29

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BEIJING, Aug. 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, fell 5.88 basis points to 2.5832 percent Wednesday.

The seven-day Shibor dropped 1.1 basis points to 2.653 percent. The one-month rate edged down 0.1 basis points at 2.655 percent, while the one-year rate shrank 0.4 basis points to 3.064 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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