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What is SIBOR?

SIBOR stands for Singapore Inter-bank Offered Rate. It is the average rate derived from the lending and borrowing rates between financial institutions, and announced by The Association of Banks in Singapore on daily basis. It is mainly affected by two factors, namely the US Fed interest rates and liquidity in Singapore banking sector.

What is SOR?

SOR stands for Swap Offer Rate. It is basically SIBOR factoring in US dollar to Singapore dollar exchange rate. SOR tends to be more volatile than SIBOR as it is affected by the exchange rate movement.