FX.co ★ Singapore Forex Reserves Rise Further

In December 2025, Singapore's foreign exchange reserves increased to SGD 526.33 billion, up from SGD 518.11 billion in November, marking the highest level since the peak recorded in February 2022. This growth was primarily fueled by expanded gold and foreign exchange reserves, which reached SGD 516.13 billion compared to SGD 507.96 billion in the previous month, as well as an increase in the International Monetary Fund (IMF) reserve position, which rose to SGD 1.81 billion from SGD 1.76 billion. However, there was a marginal decline in special drawing rights (SDRs), which decreased slightly to SGD 8.38 billion from SGD 8.39 billion. For context, the foreign exchange reserves in December 2024 were noted at SGD 506.71 billion.