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Singapore's Official Reserves Assets, Foreign Currency Reserves Swell in May

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Singapore's official reserve assets rose to $430.1 billion in May from $427.3 billion reported a month ago, according to the International Reserves and Foreign Currency Liquidity data released by the Monetary Authority of Singapore on Tuesday.

Foreign currency reserves, in convertible foreign currencies, also rose to $416.9 billion in the reported month from $414.5 billion in April.

The country's IMF reserve position slipped to $1.44 billion in May against $1.45 billion reported a month earlier.

Meanwhile, gold reserves, including gold deposits and gold swapped, also rose to $4.90 billion from $4.39 billion in April.

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