(Bloomberg) -- The Singapore dollar dropped to the
weakest in two months as the island's lower interest rates made
local assets less attractive.
Demand for the currency has decreased as lower rates cut
returns on local dollar-denominated deposits and other securities.
The city-state's three-month interbank rate at which banks lend
to each other fell to 2.375 percent, the least since October 2005,
compared with 5.36 percent on U.S. dollar-denominated deposits.
Read more at Bloomberg Currencies News
weakest in two months as the island's lower interest rates made
local assets less attractive.
Demand for the currency has decreased as lower rates cut
returns on local dollar-denominated deposits and other securities.
The city-state's three-month interbank rate at which banks lend
to each other fell to 2.375 percent, the least since October 2005,
compared with 5.36 percent on U.S. dollar-denominated deposits.
Read more at Bloomberg Currencies News
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