China's Overnight Shibor Interbank Rate Increases Monday

Muhammad Irfan Published April 29, 2024 | 01:00 PM

China's overnight Shibor interbank rate increases Monday

BEIJING, (UrduPoint / Pakistan Point News - 29th Apr, 2024) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 1.7 basis points to 1.823 percent Monday.

The seven-day rate rose 12.9 basis points to 2.08 percent, the one-month rate went up 1.2 basis points to 1.

962 percent, and the one-year rate rose 2.5 basis points to 2.112 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.

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