Romanian Interbank Bid Rate (ROBID) is the average interest rate of interbank deposits. This is the rate at which

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s offer to lend ''unsecured'' funds to other banks in the

Romania Romania is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern and Southeast Europe. It borders Ukraine to the north and east, Hungary to the west, Serbia to the southwest, Bulgaria to the south, Moldova to ...

n wholesale

money market The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a compo ...

(or

interbank market The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services (EBS) and Reut ...

). It is similar to the widely used LIBOR (

London Interbank Offered Rate The London Inter-Bank Offered Rate (Libor ) was an interest rate average calculated from estimates submitted by the leading banks in London. Each bank estimated what it would be charged were it to borrow from other banks. It was the primary b ...

), and

Euribor The Euro Interbank Offered Rate (Euribor) is a daily reference rate, published by the European Money Markets Institute, based on the averaged interest rates at which Eurozone banks borrow unsecured funds from counterparties in the euro wholes ...

(Euro Interbank Offered Rate). The rate quoted by each Participant in the Fixing represents the rate at which the RON deposits are offered to the other Participant for 15 minutes from the publication of ROBID and ROBOR rates by the Proxy.

References

Economy of Romania {{econ-stub