China's overnight Shibor interbank rate down Friday
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BEIJING, Dec. 3 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 7.1 basis points to 1.913 percent Friday.
The seven-day rate lost 2.2 basis points to 2.078 percent, the one-month rate edged down 0.1 basis points to 2.357 percent, and the one-year rate was down 0.1 basis points to 2.751 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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