Foreign Reserves (MoM) (Aug)

Foreign reserves, released by Monetary Authority of Singapore, are the total of a country's gold holdings and convertible foreign currencies held in its central bank. Usually includes foreign currencies themselves, other assets denominated in foreign currencies, and particular amount of special drawing rights. A foreign exchange reserve is a useful precaution for countries exposed to financial crises. It can be used for the purpose of intervening in the exchange market to influence or peg the exchange rate.