Singapore interest rates fall on seasonal factors

Singapore

SINGAPORE interest rates have fallen sharply in the second week of the New Year on seasonal factors and a relatively weak US dollar.

The more volatile three-month SOR or swap offer rate fell to 0.868 per cent on Tuesday, from 0.902 per cent on Monday. It has lost 17 points from the one-month high of 1.04 per cent on Dec 29. The SOR, which is used to price commercial loans, is updated late at night.