Bank of Israel - reserves report
The annual report of the Foreign Currency Department describes and analyses changes in the level of Israel's foreign exchange reserves, developments in their management, liquidity, rate of return and the risks to which the reserves portfolio is exposed.
In brief:
· The average level of the Bank of Israel's foreign exchange reserves in 2006 was about $28 billion, equal to 4.8 months' worth of imports, and constituting about 75% of Israel's short-term foreign debt (a fall of 0.2 months and
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