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Q.

Wat do u mean by MIBOR and LIBOR?

Asked by PMDhanya Nair, 22 Sep '08 10:09 pm
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Answers (1)

 
1.

LIBOR stands London Interbank Offer Rate
MIBOR is Mumbai Interbank Offer Rate respectively.

LIBOR is calculated by the BBA : British banking Association. Basically at 10 am London time they ask 7 major retail banks like DB,JPM etc to submit quotes for the rate at which they would be wiling to lend money overnight. they ignore the 2 extreme quotes (highest and lowest) and LIBOR for the day is the average of the remaining. They give quotes upto 12m so you would have 3m LIBOR, 6M LIBOR etc. this is the rate at which they would lend money. the rate at which they are wiling to borrow gives you LIBID. MIBOR exact calculation i dont know but it is INR equivalent of LIBOR which is fixed in Mumbai
Answered by Jayakrishnan, 22 Sep '08 10:33 pm

 
  
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