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China's overnight Shibor interbank rate increases Thursday

2019-11-14 11:18

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BEIJING, Nov. 14 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 6.8 basis points to 2.666 percent on Thursday.

The seven-day Shibor edged up 0.7 basis points to 2.682 percent. The one-month rate rose 1 basis point to 2.776 percent, and the one-year rate inched up 0.7 basis points to 3.108 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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