China's Overnight Shibor Interbank Rate Down Monday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 9.6 basis points to 1.817 percent Monday

BEIJING, Dec. 6 (UrduPoint / Pakistan Point News - 6th Dec, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 9.6 basis points to 1.817 percent Monday.

The seven-day rate gained 5.1 basis points to 2.129 percent, the one-month rate edged up 0.1 basis points to 2.

358 percent, and the one-year rate was down 0.5 basis points to 2.746 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.