Singapore Swap Offer Rate

Singapore Dollar Swap Offer Rate (SOR) is an implied interest rate, determined by examining the spot and forward foreign exchange rate between the US dollar (USD) and Singapore dollar (SGD) and the appropriate US dollar interest rate for the term of the forward. == Overview == SOR reflects the cost of borrowing SGD synthetically by borrowing USD and subsequently "swapping" to SGD by using an FX Swap.

Source: Wikipedia — Singapore Swap Offer Rate (CC BY-SA 4.0)