China's Overnight Shibor Interbank Rate Increases Monday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 50 basis points to 2.135 percent Monday

BEIJING, Oct. 11 (UrduPoint / Pakistan Point News - 11th Oct, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 50 basis points to 2.135 percent Monday.

The seven-day rate rose 30.3 basis points to 2.199 percent, the one-month rate went down 1 basis point to 2.

366 percent, and the one-year rate edged up 0.2 basis points to 2.718 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.