Official reserves grew S$8.5b in FY2017/18

Singapore

THE official foreign reserves (OFR) gained S$8.5 billion for FY2017/18, the Monetary Authority of Singapore (MAS) said in its 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.