SONIA(redirected from Sterling Overnight Index Average)
Also found in: Encyclopedia.
Sterling Overnight Index Average. A major reference rate used in calculating the exchange rate for the British pound. It is calculated as the average interest rate on unsecured overnight transactions on the pound conducted between midnight and 3:15 p.m. by members of the London WMBA.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved