Foreign exchange reserves in Singapore edged down to SGD 515.48 billion in July 2025 from SGD 515.78 billion in the previous month. The decline was primarily driven by a dip in gold and foreign exchange holdings (SGD 505.38 billion vs SGD 505.70 billion). Special Drawing Rights remained nearly flat at SGD 8.3 billion, while the IMF reserve position saw a slight uptick (SGD 1.79 billion vs SGD 1.78 billion). In comparison, reserves stood at SGD 506.43 billion in July 2024.