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Achi news desk-
BEIJING, (APP – UrduPoint News / Pakistan Point – 29th Mar, 2024 ) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the cost of borrowing in China’s interbank market, fell 1.6 basis points to 1.718 percent on Friday.
The seven-day rate gained 1.9 basis points to 1.967 percent, and the one-month rate edged up 0.3 basis points to 2.
14 per cent, and the one-year rate edged up 0.1 basis point to 2.268 per cent.
Shibor is a simple, non-guaranteed wholesale interest rate calculated by arithmetically averaging all interbank RMB lending rates offered by the price quotation group of 18 commercial banks with high credit ratings, with the four highest quotations and the four lowest quotes excluded.
