Bank of Israel reserves decline on falling equities

David Vaaknin

The Bank of Israel’s reserves declined in February, mainly as a result of falling equity prices, the central bank reported on March 7.

All in all, the reserve portfolio remains at a very high level. It declined from $208.7 billion in January to $207.1 billion in February, which represents 45% of GDP.

The portfolio declined as a result of “a revaluation that decreased the reserves by approximately $1,108 million”, the central bank said in a statement. Another factor was government transfers

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