LIBOR stands for London Interbank Offered Rate. It is the average rate at which a selection of London banks are prepared to lend to one another. The official definition is: It is the average rate at which a selection of London banks are prepared to lend to one another. LIBOR is the interest rate at which banks can borrow money (unsecured funds) from other banks in the London interbank market for a specified period of time in a specified currency.
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Well, it seems I just answered that "It is a standard financial index used in U.
I am not familiar with these words.