China's Overnight Shibor Interbank Rate Lower Monday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 9.6 basis points to 2.113 percent Monday

BEIJING, (APP - UrduPoint / Pakistan Point News - 17th Jan, 2022 ) :The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 9.6 basis points to 2.113 percent Monday.

The seven-day rate went down 3 basis points to 2.183 percent, the one-month rate went down 0.1 basis points to 2.

428 percent, and the one-year rate went down 0.7 basis points to 2.711 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.