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China's overnight Shibor interbank rate declines Tuesday

2019-09-10 11:31

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BEIJING, Sept. 10 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined 5.4 basis points to 2.553 percent on Tuesday.

The seven-day Shibor decreased 2.4 basis points at 2.628 percent. The one-month rate lost 1.1 basis points to 2.677 percent, while the one-year rate lost 0.5 basis points to 3.046 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank yuan 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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