Port Louis Interbank Offered Rate
Port Louis Interbank Offered Rate (PLIBOR)
The PLIBOR which is computed by Thomson Reuters is based on rates contributed by banks that are members of the Port Louis Automated Clearing House. An individual PLIBOR contributor bank contributes the rate at which it could lend funds, were it to do so by quoting for and accepting inter-bank offers in a reasonable market size.
The contributed rates are ranked in a descending order, the highest and lowest rates are discarded with a view to smooth out any excessive volatility, and thereafter the arithmetic average of the remaining rates is taken as the rate of the day. In the event that there are only nine or less, but more than seven contributors, only the highest rate will be discarded with the rest of the rates averaged arithmetically. There must be a minimum of seven valid contributions in order to compute a fix. In the event that it is not possible to compute the fixing on a valid calendar day, the previous day's rates will be republished.