Starts to lose one's rag -- blimey (3)

I believe the answer is:

lor

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'blimey' is the definition.
Both the definition and answer are interjections.
Maybe you can see a link between them that I can't see?

'starts to lose one's rag' is the wordplay.
'starts to' says to take the initial letters.
The initial letters of 'lose ones rag' is 'LOR'.

Can you help me to learn more?

(Another definition for lor that I've seen is " crumbs".)

I've seen this clue in The Independent.

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