Israel’s foreign exchange reserves rose from $204.665 billion to $213.634 billion over the past 12 months, slightly below the record foreign exchange reserves of $213.731 billion in March 2024.
The Bank of Israel reported that Israel’s foreign exchange reserves at the end of July 2024 amounted to $213.634 billion, an increase of $3.353 billion over their level at the end of June. The level of reserves relative to GDP was 42%.
This increase was mainly due to the revaluation which increased reserves by about $4.278 billion. This increase was partially offset by the government’s foreign exchange activities which totaled about $932 million.
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In fact, foreign exchange reserves rose from $204.665 billion to $213.634 billion over the past 12 months, slightly below the record foreign exchange reserves of $213.731 billion in March 2024.
This article was published in Globes, Israeli Business News – en.globes.co.il – on August 7, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Bank of Israel Photo: Tali Bogdanovsky