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China's overnight Shibor interbank rate rises Tuesday

2019-09-17 11:31

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BEIJING, Sept. 17 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, surged 22.9 basis points to 2.565 percent on Tuesday.

The seven-day Shibor dropped 0.4 basis points to 2.638 percent. The one-month rate edged up 0.3 basis points to 2.685 percent, while the one-year rate remained unchanged at 3.043 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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