Three-month swap offer rate continues to tumble
At 0.737 per cent, three-month SOR has fallen 30 points from one-month high of 1.04 per cent
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Singapore
THE three-month swap offer rate (SOR) has fallen to the lowest point this year, dragged down by the weakening US dollar, bringing some cheer to borrowers with loans pegged to it.
On Monday, the three-month SOR, which is used to price commercial loans fell to 0.737 per cent, down 0.072 points from Friday's 0.809 per cent. The more volatile SOR, which is updated late at night, has now tumbled 30 points from the one-month high of 1.04 per cent reached on Dec 29.
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