Forex reserves record further increase - Israel Business, Ynetnews

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Increase of $194 million compared to November Photo: Shutterstock
Increase of $194 million compared to November Photo: Shutterstock

Forex reserves record further increase

Foreign currency reserves total $75.86 billion at end of December. Bank of Israel negatively affected as long as US dollar's exchange rate remains low

Gad Lior
Published: 01.13.13, 07:49 / Israel Business

Israel's foreign currency reserves continue to grow, negatively affecting the Bank of Israel as long as the US dollar's exchange rate remains low.


The central bank reported this week that foreign currency reserves totaled $75.86 billion at the end of December, an increase of $194 million compared to the end of November.


The rise in foreign currency reserves in December is explained by the reevaluation of $338 million in foreign currency reserves and by private sector transfers totaling some $67 million.


The growth was partially compensated by the government's transfers abroad of some $211 million.



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