Interbank rates improve

Beyond the gyrations of the stock markets, there were continued signs that conditions in the interbank markets were on the mend.

The cost of borrowing dollars for three months in the interbank markets in London registered its first monthly decline since May.

Friday's fix for three-month dollar loans fell 16 basis points from a day earlier to close at 3.03%. The rate for overnight loans was 32 basis points lower at 0.41% - down from 6.88% on 30 September following the collapse of Lehman Brothe

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