Also referred to as the Eurodollar Rate in combination with the Eurodollar Base Rate. A method that was used to determine the interest rate in a loan agreement. The Eurodollar Rate was also known as USD LIBOR, which has been phased out as a reference rate.

Eurodollar refers to US currency held in banks outside of the US that is generally subject to less regulation than deposits of US currency inside the US. The formula for calculating the Adjusted Eurodollar Rate for an interest period was the ratio of Eurodollar Rate to 1.00-Eurocurrency Reserve Requirement. The Adjusted Eurodollar Rate was commonly used in international transactions.

For more information on the Eurodollar Rate/LIBOR, see Practice Note, What's Market: LIBOR Interest Rate Provisions.