Israeli reserves reach new record high

David Vaaknin

The Bank of Israel’s international reserves reached a new record high in April, boosted by its foreign currency purchases.

On May 6, the central bank said its international reserves had grown by $8.3 billion last month to $194 billion, or 48.1% of Israel’s GDP. This extremely high level is partly driven by the central bank’s foreign exchange interventions, aimed at preventing the appreciation of the shekel’s exchange rate.

The central bank said these foreign currency purchases accounted for $5

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