Sept. 16 (Bloomberg) -- The cost of borrowing in dollars overnight more than doubled to 6.44 percent, its biggest jump, according to the British Bankers' Association.

The London interbank offered rate, or Libor, increased 333 basis points from yesterday, the BBA said today.

To contact the reporter on this story: Justin Carrigan in London at jcarrigan@bloomberg.net

Last Updated: September 16, 2008 07:01 EDT