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Israel’s foreign exchange reserves at the end of May 2013 stood at $77,650 million, an increase of $504 million from their level at the end of April.
The increase was the result of:
a. Foreign exchange purchases by the Bank of $950 million, of which $250 million was bought under the purchase program, intended to offset the effect on the exchange rate of natural gas production in Israel.
b. An increase of $111 million derived from private sector transactions.
This was partly offset by:
a. Government transfers to abroad of $414 million.
b. A revaluation that decreased the reserves by about $143 million.
