Rate of interest on commercial borrowings of our country from abroad are reckoned with reference to LIBOR. And LlBOR denotes the?
(A) minimum rate of discount given by the Bank of England
(B) interest rate charged by the International Monetary Fund
(C) interest rate charged by the World Bank on its loans
(D) basic interest rate on interbank loans in London
Correct Answer : (D) basic interest rate on interbank loans in London
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