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China's overnight Shibor interbank rate rises Wednesday

Xinhua News,
2020-08-19 11:20

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BEIJING, Aug. 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 3.3 basis points to 2.148 percent Wednesday.

The seven-day rate edged up 1.4 basis points to 2.204 percent, the one-month rate went up 0.3 basis points to 2.307 percent, and the one-year rate rose 0.7 basis points to 2.893 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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