China's overnight Shibor interbank rate decreases Thursday

0 Comment(s)Print E-mail Xinhua, October 29, 2020
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BEIJING, Oct. 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 25.4 basis points to 2.125 percent Thursday.

The seven-day rate dropped 3.2 basis points to 2.353 percent, the one-month rate edged up 0.4 basis points to 2.69 percent, and the one-year rate rose one basis point to 3.167 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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