Tag Archives: Reserves

Reserves have fallen by US$34bn since July. Singapore is spending billions of reserves to prop up its currency, a report by DBS revealed. According to DBS, Singapore's reserves have fallen by US$34 billion since July, a trade-off of keeping the SGD on its appreciation path.

In 6 short months, Singapore's reserves have fallen by the equivalent of 11% of a full year's GDP. Little wonder hat the central bank eased back on the appreciation path in late January. Further easing will be necessary if reserves don't stop falling.