Euro Interbank Offer Rate (Euribor) is a reference rate that is constructed from the average interest rate at which eurozone banks offer unsecured short-term lending on the inter-bank market. This reference rate is contained in quotation systems and used by many international lenders to determine their interest rates on loans. As a result, this reference rate affects the amounts that banks charge to lend money to other banks and thus affect how much money those banks make in their operations. To find out what rate you can expect to pay on any loan, it is important to know what the Euro Interbank Offer Rate benchmark is at the time of your decision.A great tool for comparing the costs of borrowing between banks, Euro Interbank Offer Rate is a reference rate that is constructed from the average interest rate at which eurozone banks offer unsecured short-term lending on the inter-bank market. It is also useful for comparing longer-term loan agreements to see whether you can save money with a shorter-term loan.Euro Interbank Offer Rate has many uses beyond just comparing interest rates, as it is commonly used to calculate swap rates, currency forwards, and benchmark rates for a wide variety of financial transactions. You can have the Euro Interbank Offer Rate rate sent to you in either the Euro or in British Pounds for your convenience.
