Singapore foreign reserves: $200 b, down from peak

Posted on July 30, 2010 by Abhijit

Singapore's official foreign reserves are down from their peak in April. But at nearly $200 billion they are still higher than ever before ± except in April. The official reserves rose to more than $203 billion in April before slipping to $198.3 billion in May and recovering some lost ground in June when they totalled almost $199.96 billion. This chart shows Singapore's total official foreign reserves since January 2009 ± since before the recession. The figure is considerably higher now with the Singapore dollar rising against the US dollar.

All figures are in US dollars and taken from the Monetary Authority of Singapore (MAS) official foreign reserves web page. The central bank says that "the book value of foreign reserve assets are translated at market exchange rates prevailing at the end of each reporting month". This Yahoo chart shows the exchange rate since October last year.

Singapore compared with other Asian economies

But the Singapore stock market rebounded more strongly than any other market in the region except Thailand. according to the same report. and growth in the rest of developing East Asia was a mere 1. Singapore's foreign reserves dipped last year while Taiwan and Hong Kong managed to accumulate a billion dollars more.7 per cent in 2010 after slowing from 8. the region¶s output.5 per cent in 2008 to 7. But China's gains ran to hundreds of billions. exports and employment have mostly returned to the levels before the crisis. lower than in South Asia and slightly stronger than in Sub-Saharan Africa. South Korea. Hong Kong.Posted on April 8. Leading the global economy. Thailand and Vietnam during the recession. This chart shows all four were back to nearly pre-crisis levels last month. Largely thanks to China. The report says: East Asia has recovered from the economic and financial crisis. 2010 by Abhijit Singapore suffered a bigger drop in exports than China. South Korea and Taiwan. however. but look at China's growing giant pile. See the chart below based on the World Bank report released yesterday. Hong Kong has bigger foreign reserves than Singapore. real GDP growth in developing East Asia is poised to rise to 8.0 per cent in 2009« Take China out of regional averages.3 per cent in 2009. .

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