The Monetary Authority of Singapore posted a record loss of S$10.9 billion ($9 billion) in the year through March as the strength of its currency depleted the value of investments.
The loss is the second in the central bank’s 40-year history, Managing Director Ravi Menon said at a press conference today, even after an investment gain of S$12.3 billion for the period. The Monetary Authority, also known as the MAS, reported a net loss of S$9.2 billion in the year through March 2009. Full story
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