Interest rates in Singapore are determined by global developments given its exchange rate centred monetary policy framework. Against that, market-driven interest rate benchmarks, play an important role in the domestic financial system and the broader economy.

In Singapore, Sibor and Sor have served as the key interest rate benchmarks in Singapore dollar (SGD) financial markets for decades. They meet the needs of different user groups, with Sor used in pricing of bonds and loans to large institutions with hedging requirements, as Sor is also the reference benchmark in SGD derivatives, while Sibor is mainly referenced in banking products for smaller corporates and retail customers.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply


Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook