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China's overnight Shibor interbank rate falls Thursday

2019-10-10 11:31

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BEIJING, Oct. 10 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 18.6 basis points to 2.016 percent Thursday.

The seven-day Shibor shed 3.2 basis points to 2.595 percent. The one-month rate shrank 1.95 basis points to 2.709 percent, while the one-year rate edged up 0.2 basis points to 3.049 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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