Israel’s foreign exchange reserves at the end of December 2017 stood at a record $113.01 billion, up $931 million from their level at the end of November, the Bank of Israel reports. The reserves represent 33.2% of GDP. Despite the ongoing strengthening of the shekel, the Bank of Israel bought only $100 million in foreign currency last month. The increase was also the result of: a revaluation that increased the reserves by about $600 million; government transfers from abroad totaling about $172 million; and private sector transfers of about $59 million. RELATED ARTICLES Israel's foreign exchange reserves hit record $112b Israel's foreign exchange reserves have risen to $113 billion from $98.47 billion at the end of 2016. Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018