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China's overnight Shibor interbank rate drops Monday

BEIJING
2019-12-23 11:21

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BEIJING, Dec. 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 25.7 basis points to 1.557 percent Monday.

The seven-day rate lost 7.6 basis points to 2.453 percent. The one-month rate went up 0.1 basis points to 2.998 percent, and the one-year rate dipped 0.2 basis points at 3.120 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank 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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