Bank of Israel’s reserves reach new record high

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David Vaaknin

The Bank of Israel’s reserves reached a new record high in March, boosted by foreign exchange purchases, it announced on April 7.

The international reserves portfolio grew by $635 million to $185.7 billion, or 46% of Israel’s GDP, an extremely high level.

This net increase was mainly the result of the central bank’s foreign exchange interventions. Over the last month the central bank purchased almost $2 billion, with the stated aim of preventing the shekel from appreciating against the US

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