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China's Overnight Shibor Interbank Rate Decreases Tuesday
January 3rd, 2023 | 11:33 AM | 631 views
BEIJING
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 48.2 basis points to 1.475 percent Tuesday.
The seven-day rate dropped 30.3 basis points to 1.92 percent, the one-month rate went down 1.2 basis points to 2.334 percent, and the one-year rate dropped 0.8 basis points to 2.611 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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