MAS posts S$15.8b net profit, boosted by forex gains

THE Monetary Authority of Singapore (MAS) has posted net profit of S$15.8 billion, aided by foreign exchange gains, for the year ended March 31.

For the previous year, MAS had run up a net loss of S$10.61 billion on translation effects from the stronger local unit.

In its 2013/2014 annual report released yesterday, MAS said that it holds foreign assets as reserves for the conduct of monetary policy and the defence of the Singapore dollar.