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China's overnight Shibor interbank rate rises Monday

2019-10-21 11:21

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BEIJING, Oct. 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, gained 6.4 basis points to 2.682 percent on Monday.

The seven-day Shibor remained flat at 2.691 percent. The one-month rate went up 1 basis point to 2.723 percent, and the one-year rate gained 0.3 points to 3.054 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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