In the wake of the unexpected announcement of the Bank of Israel that it will buy $ 30 billion in foreign currency in 2021, it bought $ 6.8 billion of that amount in January. After the Bank of Israel unexpectedly announced that it would buy $ 30 billion in foreign currency in 2021, it actually bought 22.8% of the amount last month. The Bank of Israel reported today that Israel’s foreign exchange reserves at the end of January 2021 reached a record level of $ 179.507 billion, an increase of $ 6.210 billion over their level at the end of December 2020. At the end of February 2020, when a crisis occurred Covid-19 started, and foreign exchange reserves reached 131.176 billion dollars. Reserves now account for 44.9% of GDP. Related materials The Bank of Israel will buy $ 30 billion in foreign currency in 2021 The increase was a result of foreign exchange purchases by the Bank of Israel, which totaled $ 6.832 billion, and government transfers from abroad totaling $ 287 million, partially offset by the revaluation that reduced reserves $ 857 million, and private sector remittances $ 52 million. Since the Monetary Committee of the Bank of Israel headed by Governor Professor Amir Yaron announced on January 14 that it would buy $ 30 billion of foreign currency in 2021, the shekel has weakened by more than 5% against the dollar, from 3.116 shekels / dollars to 3.286 shekels / dollars and more. From 4% against the euro, from 3.787 NIS / EUR to 3.937 NIS / EUR. Posted by Globes, Israel business news – en.globes.co.il – February 7, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Shekel-dollar ASAP Creative
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