BEIJING, Feb. 14 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 18.7 basis points to 1.256 percent Friday.

The seven-day rate dropped 9.1 basis points to 2.233 percent, The one-month rate went down 3.8 basis points to 2.416 percent, and the one-year rate dropped 1.7 basis points to 2.817 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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