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London Inter Bank Bid Rate (LIBID)
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Banks in the City of London tend to lend and borrow money from one another in the wholesale money markets. The rate at which a bank is willing to borrow money is called the London Inter Bank Bid Rate (LIBID).
The rate at which a bank is willing to lend money is called the London Inter Bank Offer Rate (LIBOR) .
Last Updated: April 2008 © Moneyextra.com
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