September 25, 2019 / 12:55 PM / 19 days ago

Dollar LIBOR falls to lowest since March 2018

FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo

NEW YORK (Reuters) - A measure on what banks charge each other for three-month dollars fell to its lowest in about 1-1/2 years on Wednesday, suggesting some stabilization in money markets after last week’s turmoil.

The London interbank offered rate (LIBOR) for three-month dollars USD3MFSR= declined to 2.09963%, a level not seen since March 2018.

LIBOR is a rate benchmark for $200 trillion worth of dollar-denominated financial products, mainly interest rate swaps and floating-rate loans.

Reporting by Richard Leong; Editing by Andrew Heavens

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