Singapore Forex Reserves Hit 3-Year High

Foreign exchange reserves in Singapore rose to SGD 518.08 billion in May 2025 from SGD 508.22 billion in April.

This marked the highest level since February 2022, mainly driven by a rise in gold & foreign exchange (SGD 507.96 billion vs SGD 497.98 billion in April).

Meanwhile, Special Drawing Rights (SGD 8.30 billion vs SGD 8.40 billion) and the IMF reserve position (SGD 1.81 billion vs SGD 1.84 billion) edged lower.

In May 2024, the reserves stood at SGD 500.86 billion.