Israel’s foreign exchange reserves increased on higher equity prices in April, the Bank of Israel said on May 7.
Last month, official forex reserves increased in value by $524 million to $118.7 billion. The portfolio now represents 32.2% of GDP.
The increase was the result of “a revaluation that increased the reserves by approximately $695 million”, said the central bank. Private sector transfers added a further $4 million. Offsetting the increase, government transfers abroad were recorded at