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SINGAPORE: The Republic's foreign exchange reserves edged higher in December from a month ago, reversing the decline seen in November.
The latest data from the Monetary Authority of Singapore (MAS) on Wednesday (Jan 7) showed that Singapore's foreign exchange reserves stood at S$340.44 billion at the end of last month, up from S$339.64 billion at end-November.
In US dollar terms, Singapore's FX reserves fell for a sixth straight month to US$256.86 billion at end-December, down from US$260.55 billion at end-November. Reserves had stood at US$277.97 billion at the end of June.
MAS does not comment on monthly change in its reserves, but the fall in US dollar terms is probably due to the greenback's sharp recent gains against other currencies such as the euro and yen.