China's overnight Shibor interbank rate decreases Monday

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BEIJING, Dec. 2 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 12.3 basis points to 2.233 percent Monday.

The seven-day rate lost 12.9 basis points to 2.478 percent. The one-month rate edged down 0.4 basis points to 2.779 percent, and the one-year rate was flat at 3.122 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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