MAS posts record $22.8 billion loss
Managing director Ravi Menon says loss is not a cause for concern
Singapore’s central bank posted a record annual loss in the 2022–23 financial year, mainly due to a stronger Singapore dollar and increased interest expenses.
The Monetary Authority of Singapore recorded a net loss of S$30.8 billion (US$22.8 billion) in the financial year that ended March 31, its largest ever, widening from S$7.4 billion in the year before that.
The MAS tightened monetary policy three times during the period to fight inflation. This has led to a broad appreciation of the
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