Israel's foreign exchange reserves end 2018 higher

Bank of Israel photo: Ariel Yerusalimsky

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In 2018, the foreign exchange reserves rose from $113.011 billion to $115.279 billion.

Israel’s foreign exchange reserves at the end of December 2018 stood at $115.279 billion, an increase of $223 million from their level at the end of November, the Bank of Israel reports.. The reserves represent 31.3% of GDP.

The increase was the result of: foreign exchange purchases by the Bank of Israel totaling $226 million, all of which were part of the purchase program to offset the effects of natural gas production on the exchange rate as well as government transfers from abroad of $338 million and private sector transfers of approximately $17 million. The increase was offset by a revaluation that decreased the reserves by $358 million.

In 2018, the foreign exchange reserves rose from $113.011 billion to $115.279 billion.

Published by Globes, Israel business news - en.globes.co.il - on January 8, 2019