Bank of Israel resumes foreign currency purchases

Amir Yaron  photo: Rafi Kutz

The first major purchases since Amir Yaron became Governor last December boosted the foreign exchange reserves at the end of October 2019 to a record $121.361 billion.

Israel’s foreign exchange reserves at the end of October 2019 stood at a record $121.361 billion, up $1.892 billion from their level at the end of the previous month, the Bank of Israel reports. The reserves represent 32.3% of GDP.

The rise was the result of foreign exchange purchases by the Bank of Israel totaling $314 million - the first such major purchases since Amir Yaron became Governor last December - as well as government transfers from abroad totaling $184 million and a revaluation that increased the reserves by $1.425 billion. The increase was partly offset by private sector transfers of $31 million.

Published by Globes, Israel business news - en.globes.co.il - on November 7, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Amir Yaron  photo: Rafi Kutz
Amir Yaron photo: Rafi Kutz
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