Israeli reserves increase by almost $7 billion in November

FX sales fall from $8.2 billion in October to $338 million last month

Photo: David Vaaknin

Bank of Israel reserves rose sharply in November, said the central bank in a statement on December 7.

Israel’s foreign exchange portfolio increased by almost $7 billion last month to $198.2 billion. In the context of the ongoing war between Israel and Hamas on the Gaza strip, reserves have benefitted from two main factors, the strength of the Israeli shekel and higher equity prices.

The revaluation of reserve assets increased the portfolio’s value by around $7.3 billion in November, the BoI said

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