Israel’s foreign exchange reserves in August at record levels

The Bank of Israel reports that the reserves are approaching US$90 billion
16.09.15 / 09:51
Israel’s foreign exchange reserves in August at record levels
16.09.15
Israel’s foreign exchange reserves in August at record levels
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Israel’s foreign exchange reserves at the end of August 2015 stood at $88,998million, an increase of US$574million from their level at the end of the previous month.

 

The increase was the result of a foreign currency purchases by the Bank of Israel totaling US$760 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.

 

These were partly offset by:

  1. A decrease of US$17 million derived from private sector transactions.
  2. A revaluation that decreased the reserves by about US$35million.
  3. Government transfers to abroad of about US$134 million.

 

Israel's foreign currency reserves have risen for the last five consecutive months.

 

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