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China's overnight Shibor interbank rate declines Wednesday

2019-03-13 11:22

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BEIJING, March 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 28.6 basis points to 2.079 percent Wednesday.

The seven-day Shibor decreased 10.8 basis points to 2.493 percent, while the two-week rate was up 0.3 basis points to 2.461 percent.

The one-month Shibor added 2.2 basis points to 2.754 percent, the three-month rate also edged up 0.7 basis points to 2.768 percent, and the six-month rate remained unchanged at 2.851 percent.

The nine-month rate remained unchanged at 2.95 percent, and the one-year rate was the same as well at 3.066 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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