SINGAPORE: The Monetary Authority of Singapore (MAS) is publishing 12 sets of data from its Monthly Statistical Bulletin as Application Programming Interfaces (APIs) on its website. The APIs include frequently accessed data sets on exchange rates and interest rates.
MAS said C=companies can make use of MAS’ exchange rate APIs to automate the extraction of exchange rates for tax filing with IRAS, while software developers could use MAS’ interest rates data to illustrate interest rates trends.
Financial institutions that use MAS’ data to benchmark themselves against the industry, can likewise use the APIs to minimize costly manual data entry.
Meanwhile, application service providers can create applications to compute exchange rates to help companies file tax returns. Ordinary users can also automate the extraction of MAS’ data and illustrate trends easily and quickly.
“MAS has been encouraging financial industry players to publish open APIs on their datasets, to allow users to connect information and offer innovative solutions,” said Lawrence Ang, Executive Director of Information Technology Department at MAS.
He added that MAS will progressively publish more datasets as APIs in the coming months.”
