China's Overnight Shibor Interbank Rate Unchanged Monday

Mohammad Ali (@ChaudhryMAli88) Published May 20, 2024 | 12:30 PM

China's overnight Shibor interbank rate unchanged Monday

BEIJING, (UrduPoint / Pakistan Point News - 20th May, 2024) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, stayed flat at 1.719 percent Monday.

The seven-day rate dropped 0.5 basis points to 1.803 percent, the one-month rate edged down 0.2 basis points to 1.

905 percent, and the one-year rate edged up 0.3 basis points to 2.099 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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