China's Overnight Shibor Interbank Rate Decreases Friday
Umer Jamshaid Published March 29, 2024 | 01:40 PM
BEIJING, (APP - UrduPoint / Pakistan Point News - 29th Mar, 2024) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.6 basis points to 1.718 percent Friday.
The seven-day rate gained 1.9 basis points to 1.967 percent, the one-month rate edged down 0.3 basis points to 2.
14 percent, and the one-year rate edged up 0.1 basis points to 2.268 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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