Israel's foreign exchange reserves hit new record

Bank of Israel  photo; Ariel Yeruzolimsky

The increase came despite the fact that the Bank of Israel made no foreign currency purchases in February.

Israel's foreign exchange reserves at the end of February 2016 reached a record $90.618 billion, up $131 million from the end of January, and exceeding the previous record of $90.575 billion at the end of December 2015, the Bank of Israel reports.

The increase came despite the fact that the Bank of Israel made no foreign currency purchases in February. The increase was the result of government transfers from abroad of about $283 million and an increase of about $8 million derived from private sector transactions. These were partly offset by a revaluation that decreased the reserves by about $160 million.

Published by Globes [online], Israel business news - www.globes-online.com - on March 7, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Bank of Israel  photo; Ariel Yeruzolimsky
Bank of Israel photo; Ariel Yeruzolimsky
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