29 Dec '12, 4am

[FINANCIAL GUIDE] SIBOR or SOR? Two important terms you need to know when taking home loans in Singapore:

[FINANCIAL GUIDE] SIBOR or SOR? Two important terms you need to know when taking home loans in Singapore:

As a small, open economy that depends largely on imports for most of its needs, Singapore adopts an exchange rate policy, which curbs import-based inflation. Specifically, Singapore makes use of a managed float regime, whereby the Monetary Authority of Singapore (MAS) manages the Singapore dollar against a basket of currency of its main trading partners, but allows it to fluctuate between an undisclosed band. Thus the interest rate in Singapore is determined by world money markets. It follows closely the interest rate of the countries in the basket of currency, of which the US dollar makes up a main component. Consequently, there is a correlation between the US interest rates and that of Singapore's.

Full article: http://www.stproperty.sg/articles-property/financial-guid...

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