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Replies to #7481 on FOREX TRADERS
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Capitalist

03/22/07 1:33 AM

#7484 RE: ultimatepick #7481

That answered the question all right:

Apart from the US dollar and, of course Pound Sterling, currencies for which LIBOR is a significant reference rate currently include the Swiss Franc, the Yen, the Canadian dollar and the Danish Krone...

It's a reference rate published once each day, so it's derived from the market activity between banks in each country and used as a benchmark for contracts and so forth.

Hooray! We're smarter now.