BEIJING, May 17 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14.7 basis points to 2.134 percent Friday.

The seven-day Shibor decreased 1.8 basis points to 2.589 percent, while the two-week rate was up 5.4 basis points to 2.494 percent.

The one-month Shibor went down 0.3 basis points to 2.705 percent, with the three-month rate up 0.4 basis points to 2.90 percent, and the six-month rate up 0.3 basis points to 2.95 percent.

The nine-month rate dropped 0.1 basis points to 3.05 percent, and the one-year rate rose 0.5 basis points to 3.162 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. Enditem

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