Israel’s foreign exchange reserves at the end of May 2015 stood at $85,764 million, up $51 million from the end of April 2015, the Bank of Israel
The increase was the result of foreign currency purchases by the Bank of Israel totaling $650 million, of which $250 million was part of the purchase program intended to offset the effects of natural gas production on the exchange rate.
These were partly offset by a decrease of $24 million from private sector transactions, government transfers abroad of about $230 million, and a revaluation that decreased the reserves by about $345 million.
Israel's foreign currency reserves are still below the record $87.63 billion held in August 2014.
Published by Globes [online], Israel business news - www.globes-online.com - on June 8, 2015
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