China's Overnight SHIBOR Interbank Rate Decreases

Sumaira FH Published April 19, 2019 | 02:13 PM

The overnight Shanghai Interbank Offered Rate (SHIBOR), which measures the borrowing cost of China's interbank market, decreased 15.1 basis points to 2.661 percent on Friday

BEIJING, (UrduPoint / Pakistan Point News - 19th Apr, 2019 ) :The overnight Shanghai Interbank Offered Rate (SHIBOR), which measures the borrowing cost of China's interbank market, decreased 15.1 basis points to 2.661 percent on Friday.

The seven-day Shibor dropped 5.8 basis points to 2.692 percent, while the two-week rate was down 12.6 basis points to 2.882 percent.

The one-month Shibor decreased 0.5 basis points to 2.79 percent, with the three-month rate up 1.1 basis points to 2.817 percent, and the six-month rate up 0.

5 basis points to stand at 2.869 percent.

The nine-month rate went up 0.5 basis points to 2.969 percent, and the one-year rate was down 0.1 basis points to 3.095 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.