Bank of Israel: foreign exchange reserves at July hit new record

The reserve stood at US$88,424 million, an increase of US$245 million from their level at the end of the previous month
16.08.15 / 10:25
Bank of Israel: foreign exchange reserves at July hit new record
16.08.15
Bank of Israel: foreign exchange reserves at July hit new record
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The Bank of Israel announced that Israel’s foreign exchange reserves at the end of July 2015 stood at US$88,424million, an increase of US$245 million from their level at the end of the previous month.

 

The increase was the result of:

Foreign currency purchases by the Bank of Israel totaling US$510 million, of which US$260 million were bought as part of the purchase program intended to offset the effects of natural gas production on the exchange rate and Government transfers from abroad of about US$372 million.

 

These rises were partly offset by: A decrease of US$199 million derived from private sector transactions and a revaluation that decreased the reserves by about US$438 million.

 

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