Which of the following statement is correct?
1. The interest rate in international credit market is depended on the LIBOR rate.
2. LIBOR varies in countries due to difference in the supply demand of a particular currency.
3. LIBOR is a fixed interest rate at which banks give loans to each other.

A. Both 2 and 3

B. Both 1 and 3

C. Both 1 and 2

D. All of the above

Answer: Option C