![]() □ These are all part of the normal functioning of MAS as a central bank, and are similar to how other major central banks conduct monetary policy. Through a well-diversified portfolio and careful risk management, MAS expects to earn good long-term returns that are commensurate with its risk profile. seven Chinese banks, as well as the online payment services WeChat and Alipay. Both Chinese-registered companies and foreign companies can advertise under a minimum investment of 50 RMB/day (bidding) or 50.000 RMB/campaign (reservation). Notwithstanding the financial loss, MAS’ OFR position remains strong and it transferred S$191 billion of excess OFR to the government. Chinese money comes by two names: the Chinese Yuan (CNY) and the peoples. It seeks to preserve the external purchasing power of the OFR over the long-term to support monetary policy implementation. MAS’ investment performance has to be viewed from a longer-term perspective. I also explained that MAS made a small gain of S$0.6 billion on its investment portfolio in the last financial year amidst a depressed market environment. 1,518 wechat logo stock photos, vectors, and illustrations are available royalty-free. Had MAS not done this, the Singapore Dollar would have been too strong, and hurt our exports and economy. These operations were to mop up excess liquidity in our banking system. Beijing Winter Olympic Village is scheduled to open on January 27, and the e-CNY will be piloted in the relevant scenes of the Beijing Winter Olympics. ![]() After the early multi-stage controllable pilot, Tencent began to provide users with e-CNY services. The negative currency translation effects arose because our Official Foreign Reserves are held in foreign currencies but reported in Singapore Dollars.Ģ️⃣ Second, the remaining 30% of the loss was due to interest expenses from MAS’ money market operations. Tencent WeChat supports e-CNY payment Recently, e-CNY APP was upgraded, and the e-CNY Wallet on WeBank(WeChat Pay) was launched. This policy has been successful in curbing imported inflationary pressures □ and ensuring medium-term price stability. ![]() The appreciation of the Singapore Dollar □ last year was the outcome of MAS’ tighter monetary policy to dampen inflation. ![]() Today in Parliament, I explained the recent financial loss □ recorded by the Monetary Authority of Singapore (MAS) to MPs Don Wee 黄文鸿, Hazel Poa, Hon Weng Yip, Assoc Prof Jamus Lim, and members.ġ️⃣ First, ~70% of the loss was due to the negative currency translation effects of a stronger Singapore Dollar. ![]()
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