Johannesburg Interbank Agreed Rate - JIBAR

DEFINITION of 'Johannesburg Interbank Agreed Rate - JIBAR'

The money market rate that is used by South Africa. The rate comes in one-month, three-month, six-month and 12-month discount terms.

BREAKING DOWN 'Johannesburg Interbank Agreed Rate - JIBAR'

The rate is determined as an average of the rates indicated by local and international banks. JIBAR is calculated as a yield and then converted into a discount. The rate is calculated daily after all of the rates are received by participating banks.

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RELATED FAQS
  1. What's the difference between the prime rate and the discount rate?

    Learn more about the prime rate and the discount rate and how the Federal Reserve uses these rates in the U.S. economy. Explore ... Read Answer >>
  2. How do central banks impact interest rates in the economy?

    Learn how central banks such as the Federal Reserve influence monetary policy in the economy by increasing or decreasing ... Read Answer >>
  3. How does the Federal Reserve determine the discount rate?

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  4. What is the difference between the cost of capital and the discount rate?

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  5. How does a high discount rate affect the economy?

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