Singapore Foreign Reserves Gain at $8.5Billion
The Monetary Authority of Singapore (MAS) recently announced in it’s annual report that the official foreign reserves (OFR) gained $8.5 bilion for the FY2017/18.
According to the MAS, strengthening of the Singapore dollar against the US dollar provided a translated negative effect of $13.8 billion while investment gains contributed to $22.3 billion.
As of March 31, 2018, the MAS held $376.5 billion of OFR, while investment gains over the last 10 financial years averaged $12.1 billion per year.
Investment gains mainly came from interest income and realised capital gains.
MAS said that the portfolio of investment covered cash, bonds, and equities in both advanced and emerging market economies.
MAS manages Singapore’s exchange rate, foreign reserves and liquidity in the banking sector.
It is also an integrated supervisor overseeing all financial institutions in Singapore and ensures the country’s financial industry remains vibrant, dynamic and competitive.