Thursday, May 7, 2009

Current LIBOR Rates Down Near Historical Lows

The short term, 1-month Libor rate is down 2.11% to only 0.40% from 2.51% just a year ago. This table shows all LIBOR rates are down significantly from a year ago.

Updated 5/6/2009 This week Month ago Year ago
1 Month LIBOR Rate 0.40 0.45 2.51
3 Month LIBOR Rate 0.99 1.12 2.68
6 Month LIBOR Rate 1.54 1.66 2.83
1 Year LIBOR Rate 1.78 1.95 2.99

See Libor Rates at a Glance for current rates and graphs.

Definition: LIBOR is the London Interbank Offered Rate. It is a daily reference rate based on the interest rates banks in the London wholesale money market (or interbank market) offer to lend unsecured funds to each other. LIBOR is usually slightly higher than the London Interbank Bid Rate (LIBID). LIBID is the rate the same banks are prepared to accept deposits.

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