China's overnight Shibor interbank rate decreases Tuesday

0 Comment(s)Print E-mail Xinhua, July 9, 2024
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BEIJING, July 9 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 7.5 basis points to 1.679 percent Tuesday.

The seven-day rate dropped 1.6 basis points to 1.804 percent, the one-month rate edged down 0.1 basis points to 1.886 percent, and the one-year rate went down 0.1 basis points to 2.019 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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