Foreign currency reserves reach record $78.4b

Israel's foreign exchange reserves recorded their previous all-time record of $78.078 billion in August 2011.

Israel’s foreign exchange reserves stood at a record $78.417 billion at the end of January 2013, an rise of $2.511 billion from their level at the end of December, the Bank of Israel reported today.

The Bank of Israel said that the rise was the result of a revaluation that increased the reserves by $636 million, an increase of $20 million derived from private sector transactions, and government transfers from abroad of $1.855 billion. This latter amount was presumably the result of the $2 billion bond that the Israeli government raised in New York in the last week of January.

Israel's foreign exchange reserves recorded their previous all-time record of $78.078 billion in August 2011.

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

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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