The Bank of Israel reported Thursday that its foreign exchange reserves totaled $238.8 billion at the end of July, up $93 million from June. The reserves represent 37.2% of GDP. The increase was mainly driven by a $191 million revaluation, partially offset by $73 million in government foreign exchange operations.
The Bank of Israel's monthly foreign exchange reserves report for July shows a marginal increase of $93 million from June, bringing the total to $238.8 billion. The reserves represent 37.2% of GDP, a figure that has been closely watched during the current war period. As The Zioneer has reported, the central bank has been actively intervening in currency markets to moderate the shekel's strength, including a $1 billion targeted purchase in early July. The revaluation component of $191 million reflects changes in the value of foreign currency holdings, while government operations — such as debt repayments and transfers — drew down $73 million. The net change was modest, suggesting relative stability in the reserve position.
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