China’s overnight Shibor interbank rate decreases Monday

Beijing, Oct 12 (Xinhua) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 9.8 basis points to 1.53 percent Monday.
The seven-day rate climbed 4.4 basis points to 2.073 percent, the one-month rate went down 1.4 basis points to 2.635 percent, and the one-year rate edged up 0.3 basis points to 3.031 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.


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