Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Foreign exchange reserves in Singapore have risen to a new two-year high in May, the latest data by the Monetary Authority of Singapore showed on Friday.

Foreign exchange reserves grew to SGD 500.863 billion in May from SGD 500.307 billion in the prior month.

The latest figure was mostly driven by an increase in gold & foreign exchange to SGD 490.589 billion from SGD 489.976 billion in April.

In the meantime, IMF reserve position decreased to SGD 1.843 billion in May from SGD 1.849 billion in April.

In May last year, the nation’s Forex reserves were reported at SGD 441.334 billion.

The Singaporean Dollar was little changed on the day against its US counterpart, with the USD/SGD currency pair last trading at 1.3446.

Market focus now sets on the May report on US Non-Farm Payrolls for further clues over the Federal Reserve’s interest rate path.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Gold weekly recap, February 3 – February 7Gold weekly recap, February 3 – February 7 Gold rose on Friday, marking the largest weekly advance in more than a month, after US payrolls increased less than analysts forecast. The metal drew support as China, which probably overtook India as the largest consumer last year, opened its […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.3838-1.3980. The pair closed at 1.3930, rising 0.31% on a daily basis. It has been the 15th gain in the past 25 trading days and also a second consecutive one. The daily high has been the […]
  • Albemarle Corp appoints new Senior Vice PresidentAlbemarle Corp appoints new Senior Vice President Albemarle Corporation, a global provider of essential elements for mobility, energy, connectivity and health, said on Friday that it had promoted Cynthia Lima to Senior Vice President, Chief External Affairs and Communications […]
  • Forex Market: EUR/GBP daily forecastForex Market: EUR/GBP daily forecast During yesterday’s trading session EUR/GBP traded within the range of 0.8202-0.8246 and closed at 0.8233.At 6:20 GMT today EUR/GBP was losing 0.04% for the day to trade at 0.8231. The pair touched a daily low at 0.8230 at 6:05 […]
  • Forex Market: NZD/USD trading outlook for August 8thForex Market: NZD/USD trading outlook for August 8th Friday’s trade (in GMT terms) saw NZD/USD within the range of 0.7122-0.7221. The pair closed at 0.7143, shedding 0.42% compared to Thursdays close. It has been the 16th drop in the past 31 trading days. The daily low has been the lowest level […]
  • Forex Market: GBP/USD trading outlook for September 5th 2016Forex Market: GBP/USD trading outlook for September 5th 2016 Friday’s trade (in GMT terms) saw GBP/USD within the range of 1.3253-1.3355. The pair closed at 1.3293, edging up 0.19% compared to Thursdays close. It has been the 151st gain in the past 330 trading days and also a third consecutive one. The […]