Israel’s foreign exchange reserves at the end of November 2017 amounted to a record $112.079 billion, up $770 million from the end of October, the Bank of Israel reports. The reserves represent 32.9% of GDP. The reserves rose even though the Bank of Israel purchased no foreign currency in November. The rise was the result of a revaluation that increased the reserves by about $827 million. This increase was offset by private sector transfers of about $9 million and government transfers abroad totaling about $48 million. RELATED ARTICLES BoI to purchase $1.5b in foreign currency in 2018 Israel's foreign exchange reserves keep climbing Over the past 12 months, Israel's foreign exchange reserves have risen from $97.127 billion to $112.079 billion, for the most part through foreign currency purchases as the Bank of Israel attempts to weaken the shekel to help exporters. Published by Globes [online], Israel business news - www.globes-online.com - on December 10, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
