, Singapore

Singapore has fastest growing reserves in Asia

Singapore’s foreign reserves rose the highest in Asia over the last 12 months, expressed as 31% of its GDP.

DBS Bank noted that between April 2009 and September 2010, foreign reserves in ten countries in Asia soared by $1.2trn, or some $2.3bn per day. On average, it amounts to about 12% of GDP, more than any time in history.

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