JIBAR is a market indicator and a benchmark for various interest rates in South Africa.
How it works (Example):
JIBAR calculates the average one-month, three-month, six-month, and 12-month rates. It is published daily. The rate helps determine the rates at which banks lend money to each other.
Why it Matters:
The Johannesburg Interbank Agreed Rate (JIBAR) is a short-term moneymarket rate offered by local and foreign banks in South Africa. It is somewhat similar in concept to the London Interbank Offered Rate (LIBOR) that originates in the United Kingdom.
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