Connect with us

Hi, what are you looking for?

Jewish Business News

Blogs

Data on Israel’s Foreign Currency Reserves for January 2013

Pinchas-LandauBottom line: Overall, foreign currency reserves increased by $1.4bn in January – the most in a single month since August, but not much more than December’s $1.2bn. This cumulative $2.6bn rise, most of it from intervention by the Bank of Israel, did not stop the shekel from rising against almost all currencies in December and January, but it may have contributed to the reversal that has occurred in February.

  • The scale of central bank intervention in January was actually larger than the rise in the reserves. The Bank of Israel acquired $1.73bn worth of foreign currency in the market during January.
  • The $1.4bn rise in reserves January seems large, but in fact it is much less than the rise in any of the previous three Januaries.
  • In 2012 and 2013, the rise in reserves in January was BY FAR the largest of any month in those years.  In 2011 it was the second-largest rise.
  • There are various factors involved in this pattern, not always the same ones. The phenomenon of large-scale intervention in January requires further analysis.
  • As of end-January, the basic reserves – excluding the Bank of Israel’s reserves at the International Monetary Fund and the 9separately-managed) reserves bought under the ‘gas program’, to offset the impact of natural gas production on the balance of payments – totaled $81bn. This is the first time that the basic reserves have exceeded $80bn. Total reserves (including the items noted) crossed the $80bn mark in October 2013.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Bank of Israel’s foreign currency reserves 

Monthly change ($mn), January 2010 – January 2014

FC reserves Jan 2014

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.