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Israel forex reserves hit record $232 billion

Foreign exchange reserves up $74 million from September and nearly $16 billion year-on-year, Bank of Israel figures show.

Illustration of American 100 dollar bills and 20 pounds bills in Jerusalem, May 19, 2025. Photo by Nati Shohat/Flash90.
Illustration of American 100 dollar bills and 20 pounds bills in Jerusalem, May 19, 2025. Photo by Nati Shohat/Flash90.

Israel’s foreign exchange reserves reached a new record of $231.95 billion at the end of October, rising by $74 million from the previous month and $15.88 billion from October 2024, the Bank of Israel announced on Sunday.

The increase stemmed mainly from a $607 million revaluation, partially offset by $550 million in government foreign exchange activities.

Reserves were equal to 41.3% of Israel’s GDP as of July, according to Israeli business daily Globes.

The central bank has sold only $8.5 billion in foreign currency to support the shekel since announcing a $30 billion intervention plan at the start of the Gaza war in October 2023. Most the foreign currency was sold in October and November 2023.

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