# Israeli reserves rise on higher equity prices in April

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

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