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China's overnight Shibor interbank rate increases Wednesday

Xinhua News,BEIJING
2020-01-15 11:51

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BEIJING, Jan. 15 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 13.6 basis points to 2.654 percent Wednesday.

The seven-day rate rose 6.3 basis points to 2.717 percent, the one-month rate went up 9.3 basis points to 2.799 percent, and the one-year rate edged down 0.1 basis points to 3.012 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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