BREAKING NEWS

Israel's foreign reserves decreased by $204 million in Aug.

By JPOST.COM STAFF

SEPTEMBER 7, 2010 17:38

Israel's foreign exchange reserves decreased from $204 million dollars from $64.313 billion to $64.109 billion between July 2010 and the end of August 2010, the Bank of Israel announced on Tuesday.

The drop in foreign reserves was attributed to a downward revaluation of reserves by $454 million and government transfers abroad of $336 million which more than offset the Bank's large purchase of dollars, totaling $596 million.

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