FX.co ★ Singapore’s Forex Reserves Fall to an 11-Month Low

Singapore's foreign exchange reserves decreased to SGD 502.02 billion in August 2025, down from SGD 515.48 billion the previous month. This represents the lowest level recorded since September 2024. The reduction was primarily due to a decrease in gold and foreign exchange holdings, which declined to SGD 491.92 billion from July’s SGD 505.38 billion. In contrast, Special Drawing Rights remained almost unchanged at SGD 8.3 billion. The International Monetary Fund (IMF) reserve position saw a slight increase, moving up to SGD 1.80 billion from SGD 1.79 billion. For context, reserves were at SGD 501.28 billion in August 2024.