The Bank of Israel announced on Tuesday that the country’s foreign exchange reserves, which represent a third of the gross domestic product, stood at $111,051 million at the end of September, an increase of $31 million from their level at the end of the previous month.
The increase was the result of foreign currency purchases by the Bank of Israel totaling $200 million as part of the program intended to offset the effects of natural gas production on the exchange rate, private sector transfers of about $13 million and revaluation that increased the reserves by about $156 million. The increase was offset by government transfers abroad totaling about $338 million.