Dollar and euro London interbank offered rate, or Libor, that banks charge each other for three-month dollar loans dropped for a third day to 4.55% for dollars and 5.175% for euros after the European Central Bank, Bank of England and Swiss National Bank offered lenders unlimited U.S. currency for the first time in a coordinated effort to unlock credit markets.
On Tuesday, 3-month dollar Libor was 4.635% while 3-months euro borrowing rates were fixed at 5.225%, according to the British Bankers' Association.
6-month dollar Libor was fixed on Wednesday at 4.22125% from 4.25% the previous day while 6-month euro Libor was fixed on Wednesday at 5.2475% from 5.2875% on Tuesday.
Sterling 3-month Libor was 6.21% from 6.24875% on Tuesday and for 6-month, the fix was 6.34063% from 6.35625% a day earlier.