He pointed out that investment income fluctuates every year, with an average of 14.8 billion yuan in the past 10 fiscal years.
Due to the good performance of the global market, the Monetary Authority of Singapore achieved a net profit of 19.7 billion yuan in the last fiscal year. However, the global economy and financial markets face uncertainties and risks, and the investment performance and net profit of the HKMA may be affected in the next few years.
The HKMA released its 2024/2025 annual report for the fiscal year ended at the end of March this year on Tuesday (July 15), showing that the HKMA achieved investment income of 31.4 billion yuan, a currency exchange loss of 3.4 billion yuan, and the authorities' net costs and other expenses for open market operations were 8.3 billion yuan.
Xie Yanzhen pointed out that the HKMA holds a global diversified foreign exchange reserve investment portfolio, but due to the continued instability of the global economy and financial markets, the investment performance and net profit in the next few years may be affected due to the risks.
This is the third highest net profit in the MAS history.
Currency exchange losses were mainly due to the strengthening of the SGD against the US dollar, and the authorities' official foreign exchange reserves included foreign currencies, but reported in the SGD. "These factors do not affect the ability of the HKMA to implement monetary policy or support financial market stability," he said.
Director of the HKMA Xie Yizhen said at the authorities' annual report conference that the global market performed well this year, and bonds, stocks and other assets in developed and emerging markets have achieved good returns.