Business & Economy

Israel boosts its foreign currency balance

The Central Bank of Israel announced its purchase of $2.99 ​​billion in foreign currency last May, helping raise its foreign exchange reserves to a record high of $198.35 billion.
The Central Bank of Israel said: “Reserves, which represent 48.3% of Israel’s gross domestic product, grew by $4.35 billion last month.”
The bank indicated, earlier, that “it will buy foreign currencies worth 30 billion dollars in 2021 to try to stop the rise in the value of the Israeli shekel, after it bought what was worth 21 billion dollars in 2020.”
The shekel recorded 3.11 against the dollar on January 14, its strongest level since April 1996.


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