)a number of large banks in London act as dealers in Eurodollars, they quote rates at which they are willing to borrow and lend >The rate they will lend at is called libor(London interbank offered rate) >The rate they will borrow at is called LIBID(London interbank bid rate)ØA number of large banks in London act as dealers in Eurodollars, they quote rates at which they are willing to borrow and lend.. ØThe rate they will lend at is called LIBOR(London interbank offered rate). ØThe rate they will borrow at is called LIBID(London interbank bid rate)