The US Dollar 1-month LIBOR was quoted yesterday at 2.26175 %. If the closing rate was...
The US Dollar 1-month LIBOR was quoted yesterday at 2.26175 %. If the closing rate was quoted today at 2.17950%, what is the change in the rate in basis points (bp)?
Homework Answers
Basis points means a common unit of measurement for intrest rates or other percentages in finance. One basis point is equal to 0.01% or 0.0001
Change in us dollars = 2.26175% - 2.17950%
= 0.08225%
Change in rate in basis points = 0.08225% / 0.01%
=8.225 basis points
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