What is ‘Day Rate’
The price/cost of a particular service for a day’s period. In some markets it is referred to as “per diem” (cost that an organization will pay for one days’ work) and often translates to a 7.5 hour work day. Some purchasing organizations prefer a quoted day rate instead of an hourly rate for services.
Explaining ‘Day Rate’
Common examples of a day rate would be:
– the rate of pay for a day’s manual labor by a worker
– the price for a hotel room when no overnight stay is required/utilized
– the quoted price for contractor work done onsite for a client
Further Reading
- Tracking the Libor rate – www.tandfonline.com [PDF]
- Interbank payments and the daily federal funds rate – www.sciencedirect.com [PDF]
- Intra-day and inter-market volatility in foreign exchange rates – academic.oup.com [PDF]
- The economics of exchange rate volatility asymmetry – onlinelibrary.wiley.com [PDF]
- Long run trends and volatility spillovers in daily exchange rates – www.tandfonline.com [PDF]
- The distribution of realized exchange rate volatility – www.tandfonline.com [PDF]
- Skewness in the conditional distribution of daily equity returns – www.tandfonline.com [PDF]
- Fear and greed in financial markets: A clinical study of day-traders – pubs.aeaweb.org [PDF]
- Financial markets in times of stress – www.sciencedirect.com [PDF]
