BEIJING, April 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, edged down 0.2 basis points to 1.301 percent Thursday. The seven-day rate rose 13.7 basis points to 1.88 percent, the one-month rate went down 1.2 basis points to 2.142 percent, and the one-year rate dropped 1.3 basis points to 2.484 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.
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