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China's overnight Shibor interbank rate drops Monday

2019-11-04 11:23

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BEIJING, Nov. 4 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, shrank 22.6 basis points to 2.075 percent on Monday.

The seven-day Shibor dropped 8.7 basis points to 2.529 percent. The one-month rate dropped 0.5 basis points to 2.770 percent, and the one-year rate rose 0.5 basis points to 3.084 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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