File photo: Singapore dollars
SINGAPORE: The Republic's foreign exchange reserves fell in Nov from Oct, according to provisional data from the Monetary Authority of Singapore released on Monday (Nov 8).
The city-state's FX reserves stood at S$339.6 billion at the end of November, down from S$339.9 billion at end-October and S$340.9 billion a year ago.
MAS does not provide reasons for month-to-month changes in foreign reserves, but this is in part due to the Singapore dollar's strength against most other currencies. While the Singapore dollar has fallen to S$1.31 against the US dollar from around S$1.26 at the start of 2014, it has gained strongly against both the euro and yen.
The euro is now worth around S$1.62, down from around S$1.75 at the beginning of the year. Meanwhile, S$1 currently gets 91 yen compared to 83 yen in early Jan.
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