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China's Overnight Shibor Interbank Rate Increases Tuesday
June 22nd, 2021 | 13:20 PM | 190 views
BEIJING
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 5.4 basis points to 2.301 percent Tuesday.
The seven-day rate rose 8 basis points to 2.337 percent, the one-month rate edged up 0.5 basis points to 2.406 percent, and the one-year rate rose 0.3 basis points to 2.905 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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