Bank of Israel purchased $1.44b in June

The purchases helped boost Israel's foreign currency reserves to $78.22 billion at the end of June.

The Bank of Israel bought $1.44 billion of foreign currency in June 2013, including $240 million under the purchase program, intended to offset the effect on the exchange rate of natural gas production in Israel. The purchases helped boost Israel's foreign currency reserves to $78.22 billion at the end of June.

Private sector transactions added $128 million to the foreign currency reserves. The purchases were offset by $711 million in government transfers abroad and a downward revaluation of the reserves by $287 million, resulting in a net increase in the reserves of $570 million during the month.

Israel's foreign currency reserves peaked at $78.41 billion at the of January.

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

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

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