Central Banking magazine announced, Tuesday morning, that it has chosen the Bank of Israel as the winner of the 2017 Reserve Manager of the Year award. The London-based publication said, "The Bank of Israel's reserves more than tripled in value since 2008, to stand at $98 billion at the end of 2016. This was part of a conscious effort by officials to increase foreign exchange holdings, which were determined to be far too low, one of the lessons of the Asian financial crisis of 1997."
This year’s prize follows the magazine’s granting the bank its Transparency Award in 2016.