China's Overnight Shibor Interbank Rate Increases Monday

(@FahadShabbir)

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 6.6 basis points to 2.131 percent Monday

BEIJING, (UrduPoint / Pakistan Point News - 18th Oct, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 6.6 basis points to 2.131 percent Monday.

The seven-day rate rose 4.2 basis points to 2.174 percent, the one-month rate edged down 0.12 basis points to 2.

357 percent, and the one-year rate rose 0.75 basis points to 2.734 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.