Singapore's Forex Reserves Climb Over SG$544 Billion in April

MT Newswires05-07

Singapore's foreign exchange reserves rose to SG$544.1 billion in April from SG$541.7 billion in March, according to preliminary data from the Monetary Authority of Singapore released Thursday.

The city-state logged a month-on-month increase in gold and foreign exchange to about SG$534.0 billion from about SG$531.6 billion.

The International Monetary Fund reserve position increased to over SG$1.86 billion during the month from SG$1.80 billion in the preceding month, the data showed. Special drawing rights, however, fell to SG$8.24 billion from about SG$8.30 billion.

In US dollar terms, total foreign exchange reserves jumped to nearly $427.3 billion from $419.9 billion in March, according to the latest update.

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