China's Overnight's Shibor Interbank Rate Lower Wednesday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 19.1 basis points to 1.74 percent Wednesday

BEIJING, (UrduPoint / Pakistan Point News - 26th Jan, 2022 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 19.1 basis points to 1.74 percent Wednesday.

The seven-day rate went down 0.5 basis points to 2.088 percent, the one-month rate stayed flat at 2.

419 percent, and the one-year rate went down 0.6 basis points to 2.668 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.