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China's overnight Shibor interbank rate rises Wednesday

2019-11-13 11:13

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BEIJING, Nov. 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 22.2 basis points to 2.598 percent on Wednesday.

The seven-day Shibor edged up 2.6 basis points to 2.675 percent. The one-month rate rose 0.4 basis points to 2.766 percent, and the one-year rate rose 0.2 basis points to 3.101 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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