FX.co ★ Singapore Forex Reserves Hit 3-Year High

Foreign exchange reserves in Singapore increased to SGD 518.08 billion in May 2025, up from SGD 508.22 billion in the previous month of April. This represents the highest level since February 2022, primarily due to a surge in gold and foreign exchange holdings (SGD 507.96 billion compared to SGD 497.98 billion in April). Conversely, both Special Drawing Rights and the International Monetary Fund (IMF) reserve position experienced slight declines, with Special Drawing Rights falling to SGD 8.30 billion from SGD 8.40 billion, and the IMF reserve position dropping to SGD 1.81 billion from SGD 1.84 billion. In May of the prior year, 2024, the reserves were recorded at SGD 500.86 billion.