China's Overnight Shibor Interbank Rate Up Tuesday
Umer Jamshaid Published March 21, 2023 | 12:40 PM
BEIJING, (UrduPoint / Pakistan Point News - 21st Mar, 2023 ) --:The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, gained 18.6 basis points to 2.459 percent Tuesday.
The seven-day rate rose 3.5 basis points to 2.198 percent, the one-month rate edged up 0.1 basis point to 2.
398 percent, and the one-year rate declined 2.4 basis points to 2.699 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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