China's Overnight Shibor Interbank Rate Up Thursday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, gained 0.3 basis points to 2.154 percent Thursday

BEIJING, Dec. 9 (UrduPoint / Pakistan Point News - 9th Dec, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, gained 0.3 basis points to 2.154 percent Thursday.

The seven-day rate gained 1.8 basis points to 2.22 percent, the one-month rate remained flat at 2.

36 percent, and the one-year rate was down 0.2 basis points to 2.738 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.