Basis point refers to a unit of measurement used in finance and is equivalent to 0.01% or one-hundredth of a percent. It is commonly used to express changes in interest rates or the performance of investments. Synonyms for basis point include percentage point, per mille, and permyriad. These terms are all similar as they refer to small units of measurement used in the financial world. Other synonyms for basis point include pip (used in the foreign exchange market) and bips. Regardless of the term used, basis point remains an important unit of measurement for investors, economists, and other professionals in the finance industry.