FX.co ★ Singapore Forex Reserves Retreat in July

Singapore’s official foreign exchange reserves fell to SGD 549.3 billion in July 2026, down from SGD 551.3 billion in June, easing back from their highest level since February 2022. The decline was largely attributable to a reduction in gold and foreign exchange holdings, which slipped to SGD 539.2 billion from SGD 541.2 billion in the previous month. Special drawing rights also edged lower, to SGD 8.25 billion from SGD 8.29 billion. In contrast, Singapore’s reserve position in the IMF rose slightly to SGD 1.87 billion from SGD 1.82 billion. A year earlier, in July 2025, official foreign exchange reserves totaled SGD 515.5 billion.