After the RBI stopped publishing MIFOR rates, they were temporarily published by FBIL, a private company owned by the Fixed Income Money Market and Derivatives Association of India, the Foreign Exchange Dealers' Association of India, and the Indian Banks' Association. This ceased on June 30, 20...
Interbank foreign exchange is the top foreign exchange market where the banks are involved in currency exchange. They can deal either directly or through a electronic broking platforms. These platforms connect over 1000 banks. The interbank foreign exch...
"PHIREF" means the implied Peso interest rate derived from done deals in the interbank foreign exchange swap market. The PHIREF is used as the benchmark for the reset value for the peso floating leg of an Interest Rate Swap. "Protocol Covered Documents" has the meaning given to it in...
The interbank exchange rate has its name because it’s the rate that banks use when they’re trading large amounts of foreign currencies with one another. The interbank rate is also called the mid-market rate, the spot rate, or the real exchange rate. Unfortunately, this rate is pretty mu...
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