China's overnight Shibor interbank rate declines Thursday

Source: Xinhua| 2019-02-28 11:28:25|Editor: Xiang Bo
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BEIJING, Feb. 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost on China's interbank market, dropped 7 basis points to 2.584 percent Thursday.

The seven-day Shibor decreased 9.2 basis points to 2.658 percent, while the two-week rate was down 15.7 basis points to 2.73 percent.

The one-month Shibor grew 0.8 basis points to 2.694 percent, the three-month rate went down 0.5 basis points to 2.751 percent, and the six-month rate dropped 0.2 basis points to 2.85 percent.

The nine-month rate fell 0.3 basis to 2.951 percent, and the one-year rate also decreased 0.1 basis to 3.06 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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