International reserves at the Bank of Israel increased by $2.8 billion to $118.1 billion (32.1% of GDP) in January, the central bank said on February 7.
It is the best monthly performance in over a year. During 2018, the Israeli international reserves portfolio was affected by the increased volatility of equity markets. But in January 2019, equity values increased sharply, especially in the US. The S&P 500 index rose by 7.9% last month.
This was one of the three key contributors to the