BEIJING, Nov. 26 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 28 basis points to 1.298 percent Thursday.

The seven-day rate rose 7 basis points to 2.294 percent, the one-month rate edged up 0.2 basis points to 2.718 percent, and the one-year rate rose 1.2 basis points to 3.278 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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