China's Overnight Shibor Interbank Rate Decreases Friday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 11.5 basis points to 2.105 percent Friday

BEIJING, (APP - UrduPoint / Pakistan Point News - 8th Oct, 2021 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 11.5 basis points to 2.105 percent Friday.

The seven-day rate dropped 9.6 basis points to 2.17 percent, the one-month rate went down 4 basis points to 2.

399 percent, and the one-year rate stayed the same at 2.722 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.