China's overnight Shibor interbank rate drops Thursday

0 Comment(s)Print E-mail Xinhua, October 17, 2019
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BEIJING, Oct. 17 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 10.9 basis points to 2.585 percent on Thursday.

The seven-day Shibor lost 2.3 basis points to 2.663 percent. The one-month rate went up 0.5 basis points to 2.709 percent, and the one-year rate gained 0.2 points to 3.05 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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