China's Overnight Shibor Interbank Rate Decreases Tuesday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 3.4 basis points to 2.101 percent Tuesday

BEIJING, (UrduPoint / Pakistan Point News - 13th Oct, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 3.4 basis points to 2.101 percent Tuesday.

The seven-day rate dropped 3.2 basis points to 2.167 percent, the one-month rate edged down 0.3 basis points to 2.

363 percent, and the one-year rate edged down 0.2 basis points to 2.716 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.