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FinancialNews


  • 10-10-18

    UAE's Eibor interest rates jump to 48.6 percent

    (MENAFN) The UAE's Emirates Inter-Bank Offered Rate (Eibor) reportedly saw its charged interest rates record a 30.7- 48.6 percent jump since this year started.

    The Central Bank of UAE (CBUAE) was cited by WAM explaining the boost to have been driven by a move the US Federal Reserve made to hike interest rates several times.

    The increase has been registered following the CBUAE's implementation of the new Eibor system in April.

    The new system made the central bank cease its role as calculating agent of Eibor and handing it over to Thomson Reuters Ltd.

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