Mumbai Interbank Offered Rate (MIBOR)

Definition

An overnight lending rate calculated daily by the National Stock Exchange of India. This rate is given to first class borrowers and lending institutions, and is based on an average of lending rates offered by major banks throughout India. Since its launch on June 15th 1998, this benchmark has been used to determine rates on nearly all money market deals made in India.

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I went to my friend to ask what the Mumbai Interbank offered rate was, because I was ignorant on the subject.

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THE TOTAL MUMBAI INTERBANK OFFERED RATE MAY VARY FROM NIGHT TO NIGHT AS IT IS A CONSTANT CHANGE IN THE AVERAGE LENDING RATES OFFERED BY MAJOR BANKS THROUGHOUT INDIA.

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When considering call center outsourcing, take into account where the mumbai interbank offered rate happens to be that day; you'd be surprised at the service you can get when workers are taking out loans.

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Mumbai Interbank Forward Offer Rate (MIFOR) London Inter-Bank Offer Rate