Israel’s foreign exchange reserves stood at $118.208 billion at the end of March 2019, up $271 million from their level at the end of February, the Bank of Israel reports. The reserves represent 32% of Israel's GDP. The foreign exchange reserves rose to a new record, even though no foreign currency was purchased in March 2019, and the Bank of Israel only purchased $32 million in foreign currency in the first quarter of 2019. RELATED ARTICLES Israel's foreign exchange reserves climb to new record Israel's foreign exchange reserves fell in February The rise in the foreign exchange reserves in March were due to government transfers from abroad totaling $125 million and a revaluation that increased the reserves by $157 million. The increase was offset by private sector transfers of $11 million. Published by Globes , Israel business news - en.globes.co.il - on April 7, 2019 © Copyright of Globes Publisher Itonut (1983) Ltd. 2019
