Israel's Foreign Exchange Reserves Rise to $237.8 Billion in October
The Bank of Israel reported a $775 million monthly increase, driven mainly by a rise in the dollar value of its existing reserves.
Israel's foreign exchange reserves rose by $775 million in October to $237.773 billion, the Bank of Israel reported Thursday.
The central bank said the reserves stood at 34.3% of the country's gross domestic product at the end of the month.
Most of the monthly increase came from a change in the value of the reserves. The Bank of Israel put that revaluation at about $1.755 billion. Government foreign exchange activity partly offset the gain, reducing the reserves by about $965 million during the month.
The figures are the bank's month-end snapshot for October, released November 5. The rise was mainly a revaluation gain, rather than the report attributing it to a new purchase of foreign currency.