Bethel Finance news:
Israel’s foreign exchange reserves rose to a new record of $77.41 billion at the end of April 2011, $2.88 billion more than at the end of March, the Bank of Israel reported today.
The increase was due to purchases of $1.5 billion of foreign exchange by the Bank of Israel, a revaluation that increased the reserves by $1.45 billion, and $14 million in private sector transaction. These were partly offset by $83 million in government transfers.
The Bank of Israel has bought $48.6 billion in foreign currency since launching its dollar purchasing program in March 2008.
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