Foreign currency reserves up in 2012

Israel’s foreign exchange reserves stood at $75.866 billion at the end of December 2012, up slightly by $991 million from $74.875 billion at the end of 2011.

The Bank of Israel also reported that the foreign exchange reserves rose $194 million in December 2012 from their level at the end of November. The reserves had fallen slightly in the previous two months.

The rise in December was due to a revaluation that increased the reserves by $338 million, and an increase of $67 million derived from private sector transactions. This was offset by government transfers abroad of $211 million.

Israel's foreign exchange reserves have moved away from the all-time record of $78.078 billion in August 2011.

Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2013

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