Shi­bor climbs to seven-week high

China Daily (USA) - - BUSINESS -

Yuan bor­row­ing costs in Shang­hai rose to a seven-week high on Tues­day as China’s cen­tral bank pulled funds from the fi­nan­cial sys­tem for the sec­ond day in a row. The one-month Shang­hai In­ter­bank Of­fered Rate climbed to 2.74 per­cent, the high­est since Aug 4, ac­cord­ing to the Na­tional In­ter­bank Fund­ing Cen­ter. The fix­ing was re­leased af­ter the na­tion’s mon­e­tary author­ity drained a net 95.1 bil­lion yuan ($14.3 bil­lion) from the fi­nan­cial sys­tem, adding to Mon­day’s 245 bil­lion yuan with­drawal.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.