Singapore interest rates surge as Singdollar sinks on yuan devaluation
AUG 13, 20155:50 AM
The three-month Sibor or Singapore interbank offered rate, which is used to price home loans, jumped to 0.93450, up 0.05542 from Tuesday's 0.87908. The gain was 6.3 per cent and took the key interest rate nearer to the year-high of 1.02705 on April 9.
The three-month SOR or swap offer rate surged 0.07782 to 1.07461 per cent. The gain was a bigger 7.8 per cent; SOR is used typically to price commercial loans. The SOR year-high was 1.13207 on March 24.
Source: http://www.businesstimes.com.sg/banking-finance/singapore-interest-rates-surge-as-singdollar-sinks-on-yuan-devaluation