Singapore central bank records S$15.8bil profit

SINGAPORE: Singapore’s central bank posted a S$15.84bil net profit in its last financial year, helped by a drop in the local currency that led to valuation gains on its foreign currency holdings.

The Monetary Authority of Singapore (MAS), in its annual report issued yesterday, also reiterated that the economy was projected to grow 24% this year and kept its core inflation forecast unchanged at 23% for 2014.