Johannesburg Interbank Agreed Rate (JIBAR)

Written By
Paul Tracy
Updated August 5, 2020

What is the Johannesburg Interbank Agreed Rate (JIBAR)?

JIBAR is a market indicator and a benchmark for various interest rates in South Africa.

How Does the Johannesburg Interbank Agreed Rate (JIBAR) Work?

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 Does the Johannesburg Interbank Agreed Rate (JIBAR) Matter?

The Johannesburg Interbank Agreed Rate (JIBAR) is a short-term money market 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.