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China's overnight Shibor interbank rate rises Tuesday

2019-10-15 11:19

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BEIJING, Oct. 15 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 14.8 basis points to 2.703 percent on Tuesday.

The seven-day Shibor gained 3.3 basis points to 2.684 percent. The one-month rate edged up 0.4 basis points to 2.703 percent, while the one-year rate remained at 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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