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China's overnight Shibor interbank rate decreases Wednesday

Xinhua News,BEIJING
2020-05-06 14:43

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BEIJING, May 6 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 40.5 basis points to 1.483 percent Wednesday.

The seven-day rate dropped 5.4 basis points to 1.865 percent, the one-month rate edged down 0.3 basis points to 1.311 percent, and the one-year rate edged up 0.1 basis points to 1.684 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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