BEIJING, May 26 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14 basis points to 1.438 percent Friday.

The seven-day rate rose 8.4 basis points to 1.992 percent, the one-month rate edged down 0.3 basis points to 2.108 percent, and the one-year rate stayed unchanged at 2.478 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.