China's overnight Shibor interbank rate decreases Wednesday

0 Comment(s)Print E-mail Xinhua, April 24, 2024
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BEIJING, April 24 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, edged down 0.4 basis points to 1.784 percent Wednesday.

The seven-day rate rose 3.1 basis points to 1.855 percent, the one-month rate edged down 0.4 basis points to 1.959 percent, and the one-year rate dropped 0.7 basis points to 2.084 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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