BEIJING, Dec. 4 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 16.1 basis points to 1.971 percent Wednesday.

The seven-day rate gained 8.3 basis points to 2.426 percent. The one-month rate edged up 1.4 basis points to 2.799 percent, and the one-year rate inched down 0.1 basis points at 3.121 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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