MAS to transfer S$45 bil to government for long-term investment

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SINGAPORE (May 8): The Monetary Authority of Singapore (MAS) said on Wednesday it would be transferring S$45 billion from the official foreign reserves (OFR) to the Singapore government for longer-term investment.

The amount is the excess over what MAS deems necessary to maintain confidence in Singapore’s exchange rate-centred monetary policy.

As the central bank of Singapore, MAS manages the country’s foreign reserves, which stood at S$404 billion as at April.

Singapore’s monetary policy is aimed at ensuring...(click on link for full story on