LIBOR

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The London Inter-bank Offered Rate, officially known as ICE LIBOR (for Intercontinental Exchange Libor), the average rate at which major banks around the world offer each other unsecured loans denominated in dollars, pounds, yens, francs and, to a lesser extent, euros. It’s important for forex markets because the four main currencies for which Libor is calculated generally strengthen as the relevant 12-month Libor rises. See also Euribor; euro Libor not to be confused with Euribor.

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