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China's Overnight Shibor Interbank Rate Falls Wednesday
September 16th, 2020 | 11:37 AM | 998 views
BEIJING
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 32.7 basis points to 1.404 percent Wednesday.
The seven-day rate went up 5.2 basis points to 2.185 percent, the one-month rate went up 0.1 basis points to 2.597 percent, and the one-year rate dropped 0.3 basis points to 3 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.
Source:
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
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