China's Overnight Shibor Interbank Rate Lower Thursday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 12.6 basis points to 1.614 percent Thursday

BEIJING, Jan. 27 (UrduPoint / Pakistan Point News - 27th Jan, 2022 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 12.6 basis points to 1.614 percent Thursday.

The seven-day rate went up 3.2 basis points to 2.12 percent, the one-month rate fell 0.1 basis points to 2.

418 percent, and the one-year rate went down 0.4 basis points to 2.664 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.