England Forex Bank

The dollar lending rates lending rates rose in RiseDollar the interbank foreign exchange market despite the announcement of plans for the U.S. government for the rescue of Citigroup, in its absence. The LIBOR (London Interbank Offered Rate) for the three loans, month in dollars increased slightly from 2.16% Friday to 2.17 on Monday, November 24, 2008.Increase in RateThe increase in LIBOR LIBOR is important for interbank currency, the financial sector and overall economy. The LIBOR rate determines the types of loans to households and businesses. Many mortgages and student loans are tied to LIBOR and can have effects that go all day to day economy. The increase in rate suggests that banks are worried that other financial institutions could collapse in a chaotic world economy.