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China's overnight Shibor interbank rate rises Monday

BEIJING
2020-01-13 11:16

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BEIJING, Jan. 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 28.68 basis points to 2.059 percent Monday.

The seven-day rate gained 3.5 basis points to 2.522 percent. The one-month rate remained unchanged at 2.619 percent, and the one-year rate decreased 0.1 basis points to 3.014 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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