Local Interest Rates at 12-month Low
With the strong Singapore dollar (SGD), local interest rates have been declining to a 12-month low. Both the three-month Singapore interbank offered rate (SIBOR) and three-month swap offer rate (SOR) are about 30 and 60 per cent lower respectively, with SIBOR at 0.87192 per cent on Tuesday and SOR at 0.75448 per cent on Monday.