China's Overnight Shibor Interbank Rate Up Monday
Muhammad Irfan Published June 07, 2021 | 04:00 PM
BEIJING, Jun 7 (UrduPoint / Pakistan Point News - 7th Jun, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 12.4 basis points to 2.299 percent Monday.
The seven-day rate rose 6.6 basis points to 2.253 percent, the one-month rate went up 0.8 basis points to 2.
385 percent, and the one-year rate stayed flat at 2.887 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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