Official Foreign Reserves in Singapore

Singapore's official foreign reserves are the external assets (foreign currency, gold, SDRs and the reserve position at the IMF) held by the Monetary Authority of Singapore (MAS). They measure the country's capacity to back its currency and meet its external obligations.

The sum of the end-of-month market value of foreign currency, gold, SDRs and the IMF reserve position, expressed in US dollars and published monthly by the MAS.

High and stable reserves give the MAS room to manage the Singapore dollar, which is steered within a currency band rather than through interest rates, and signal external strength to markets.

The absolute level is affected by market valuation (gold and exchange rates) and by currency intervention, so month-on-month changes do not always reflect genuine capital inflows or outflows.