Year in Review

• MAS, as a central bank, manages the Official Foreign Reserves (OFR) and conducts money market operations to manage liquidity in the banking system.
• In performing its functions, MAS recorded:
  • investment gains of S$39.8 billion from the management of MAS’ foreign investments, partially offset by:
  • negative currency translation effects of S$16.4 billion, and
  • net expenses of S$2.4 billion, mainly from MAS’ money market operations to manage banking system liquidity, after offsetting interest income from Reserves Management Government Securities (RMGS).
• Overall, MAS recorded a net profit of S$20.0 billion in FY2025/26 (after a S$1.0 billion contribution to the Consolidated Fund).
• For FY2025/26, the MAS Board approved a return of S$2.5 billion to the Singapore Government.