Singapore foreign reserves gain was S$8.5b in FY2017/18: MAS

THE official foreign reserves (OFR) gained S$8.5 billion for FY2017/18, the Monetary Authority of Singapore said in its latest annual report released on Wednesday.

The gains in OFR comprise investment gains of S$22.3 billion and a loss from currency translation effects of S$13.8 billion due mainly to the strengthening of the SGD against the USD and JPY, the MAS said. The investment gains over the last 10 financial years averaged S$12.1 billion per annum.

The MAS held S$376.5 billion of OFR as at 31 March 2018. The OFR is invested in a well diversified portfolio for good long term returns and resilience across market conditions.

Investment grade bonds in the advanced economies form the largest allocation in the portfolio. About three quarters of the portfolio are denominated in USD, EUR, JPY and GBP, with USD forming the bulk.