Singapore Forex Reserves Rise Further

Foreign exchange reserves in Singapore rose to SGD 526.33 billion in December 2025 from SGD 518.11 billion in November. This was the largest amount since a record high in February 2022, driven by further increases in gold and foreign exchange reserves (SGD 516.13 billion vs SGD 507.96 billion in November) and IMF reserve position (SGD 1.81 billion vs SGD 1.76 billion). Meanwhile, special drawing rights (SDRs) fell slightly (SGD 8.38 billion vs SGD 8.39 billion). In December 2024, the reserves stood at SGD 506.71 billion.

Foreign exchange reserves in Singapore rose to SGD 518.1 billion in November 2025, up from SGD 510.4 billion in October, marking the highest level since February 2022. The increase was driven by gains in gold and foreign exchange reserves (SGD 507.96 billion vs SGD 500.34 billion) and special drawing rights (SDRs) (SGD 8.39 billion vs SGD 8.32 billion), partly offset by a slight decline in the IMF reserve position (SGD 1.76 billion vs SGD 1.764 billion). On a year-on-year basis, reserves were up from SGD 505.74 billion in November 2024.

Foreign exchange reserves in Singapore rose to SGD 510.42 billion in October 2025 from SGD 506.83 billion in September. This was the largest amount since July, driven by an increase in gold and foreign exchange reserves (SGD 500.34 billion vs SGD 496.69 billion in September). On the other hand, declines were observed in SDRs (SGD 8.32 billion vs SGD 8.35 billion) and IMF reserve position (SGD 1.76 billion vs SGD 1.79 billion). In October 2024, the reserves stood at SGD 507.61 billion.