Israel has foreign exchange reserves of USD 207 billion: According to the Bank of Israel, Israel’s foreign exchange reserves at the end of February 2024 were $206.828 billion, up $703 million from the end of January.
March 7, Tel Aviv, Israel (ANI/TPS): According to the Bank of Israel, Israel’s foreign exchange reserves—that is, its major convertible currencies—amounted to USD 206.828 billion at the end of February 2024, up USD 703 million from the previous month.
Reserve levels as a percentage of GDP were 40.8%.
According to the Bank, the revaluation that increased the amount of reserves by almost USD 907 million was the primary cause of the increase. According to the statement, this increase has somewhat offset the government’s foreign exchange operations, which totaled about USD 244 million. (TPS/ANI).
The Bank of Israel once again did not sell any foreign currency in February and has only sold $8.5 billion since the start of the war, the bulk of which was in October, despite declaring in October 2023 at the beginning of the conflict a plan to sell up to $30 billion in foreign currency to strengthen the shekel.
Over the last 12 months, the foreign exchange reserves have increased from $196 billion to about $207 billion, and they are getting close to the record $213 billion held in December 2021.
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