Israel’s foreign exchange reserves stood at a record $97.393 billion, at the end of July 2016 up $758 million from their level at the end of the previous month, the Bank of Israel reports.
The increase was the result of foreign currency purchases by the Bank of Israel totaling $600 million, of which $300 million was bought as part of the purchase program to offset the effects of natural gas production on the exchange rate.
In addition, government transfers from abroad totaled about $81 million and there was a revaluation that increased the reserves by about $320 million.
These were partly offset by private sector transfers totaling about $243 million.
Israel's foreign currency reserves have risen to $97.393 billion from $90.575 billion at the start of 2016.
Published by Globes [online], Israel business news - www.globes-online.com - on August 8, 2016
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