The Bank of Israel purchased $1.4 billion in foreign currency in July.
Israel’s foreign exchange reserves at the end of July 2014 stood at a record $87.139 billion, up $326 million from their level at the end of June, the Bank of Israel reports.
The increase was due to foreign currency purchases by the Bank of Israel totaling $1.39 billion, of which $290 million were purchased as part of the purchase program to offset the effects of natural gas production on the exchange rate.
This was partially offset by: government transfers abroad of about $236 million; private sector transfers totaling about $74 million; a revaluation that decreased the reserves by about $754 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2014
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