Singapore's Forex Reserves Rise in March

MT Newswires04-07

Singapore's foreign exchange reserves rose to SG$540.9 billion in March from SG$526.2 billion in February, according to data from the Monetary Authority of Singapore released Tuesday.

The city-state logged a month-on-month increase in gold and foreign exchange to about SG$530.8 billion from about SG$516.2 billion in February.

The International Monetary Fund reserve position increased to over SG$1.8 billion during the month from SG$1.79 billion in the preceding month, the data showed. Special drawing rights rose to SG$8.3 billion from SG$8.23 billion.

In US dollar terms, total foreign exchange reserves jumped to nearly $419.2 billion from $416.1 billion in February, according to the latest update.

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