Israel’s foreign exchange reserves at the end of May 2018 stood at $114.7 billion, down $654 million from their level at the end of April, the Bank of Israel reports. This is the fourth consecutive month that the reserves have fallen. The reserves represent 31.8% of GDP. The decrease was the result of a revaluation that decreased the reserves by about $803 million and government transfers abroad totaling $34 million. RELATED ARTICLES Israel's foreign exchange reserves continued to fall in April The decrease was offset by foreign exchange purchases by the Bank of Israel totaling $167 million, of which $154 million was part of the purchase program intended to offset the effects of natural gas production on the exchange rate, and private sector transfers of $16 million. Over the past 12 months, Israel's foreign currency exchange reserves have risen from $106.2 billion to $114.7 billion. Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018
