China's overnight Shibor interbank rate drops Thursday

0 Comment(s)Print E-mail Xinhua, August 15, 2019
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BEIJING, Aug. 15 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 3 basis points to 2.659 percent Thursday.

The seven-day Shibor dipped 1.7 basis points to 2.678 percent. The one-month rate climbed 1.3 basis points to 2.649 percent, while the one-year rate lost 0.05 basis points to 3.0825 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. Enditem

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