BEIJING, May 6 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 18.8 basis points to 2.097 percent Thursday.

The seven-day rate dropped 18.4 basis points to 2.152 percent, the one-month rate went down 1.2 basis points to 2.477 percent, and the one-year rate dropped 0.6 basis points to 2.966 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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