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Sing dollar jumps against US dollar, Sibor and SOR weaken

26388943.6 (37165563) - 12_01_2016 - mymoney.jpg
The Singapore dollar firmed sharply against the US dollar on Wednesday (March 30), while local interest rates slid further after US Federal Reserve chair Janet Yellen reiterated the need for the central bank to adopt a more cautious pace raising interest rates.

[SINGAPORE] The Singapore dollar firmed sharply against the US dollar on Wednesday (March 30), while local interest rates slid further after US Federal Reserve chair Janet Yellen reiterated the need for the central bank to adopt a more cautious pace raising interest rates.

As at 2 pm, the US dollar was trading at 1.3534 to the Sing dollar - its lowest since its close on July 13, 2015 - after ending at 1.3677 on Tuesday. The Malaysian ringgit firmed to 3.9395 against the greenback from 3.9976 on Tuesday, and 4.0102 on Monday.

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