SIBOR and SOR see increase after months of stagnancy

sibor-and-sor-see-increase-after-months-of-stagnancy

Image Credit: Ken Teegardin

With Trump as President-Elect, there is a likelihood that his administration could encourage spending to fuel inflation, and an 80% chance that interest rates will hike in December.

Closer to home, Singapore’s domestic interest rates saw an increase on Tuesday (15 Nov), on both the three-month Singapore Interbank Offered Rate (SIBOR) and the three-moth Swap Offer Rate (SOR). Having remained static at around 0.87% for close to 4 months, SIBOR rose to 0.88% on Monday, and again to 0.91% on Tuesday. The highest rate of 2016 so far has been on January 19, where SIBOR was at 1.25%.

SOR saw its lowest rate on September 26 2016 at 0.48%, and had been hovering slightly below 0.70% within the past 2 months. On Friday 11 November, it bumped up to 0.78%, and increased again on Monday 14 November, to 0.89%.

The Sing Dollar (SGD) has also fallen since the U.S. Presidential Elections. On November 9, SGD fell to as low as S$1.42 against US dollar (USD). However, it rose back to S$1.41 on Tuesday.