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China's overnight Shibor interbank rate falls Friday

2019-09-27 12:42

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BEIJING, Sept. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined 32.4 basis points to 1.313 percent Friday.

The seven-day rate rose 1.3 basis points to 2.59 percent. The one-month rate edged up 0.1 basis point to 2.75 percent, and the one-year rate stayed flat at 3.048 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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