The Bank of Israel recorded a NIS 5.3 billion loss in its foreign currency reserves in 2016, according to its annual report, due to the very strong appreciation of the shekel against sterling and the euro as well as a much smaller appreciation against the dollar. The Bank of Israel's assets increased by NIS 25 billion during 2016 and stood at NIS 394 billion at the end of 2016. Most of these assets were held in foreign currency and the main debts were in shekel makam notes. RELATED ARTICLES Foreign exchange reserves up $2b Meanwhile, in inter-bank foreign currency trading today the shekel continues to strengthen against the dollar and has hit a new three-year low, although the Israeli currency is strengthening against the euro. The shekel-dollar exchange rate is down 0.45% compared with Friday's rate at NIS 3.5768/$ while the euro is up 0.46% at NIS 4.0198/€. Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2017 © Copyright of Globes Publisher Itonut (1983) Ltd. 2017
