JERUSALEM, March 20 (Xinhua) -- Israel's foreign exchange reserves rose by 10.5 billion U.S. dollars, reaching 204.7 billion dollars at the end of 2023, said an annual report published by Israel's central bank on Wednesday.
The report added that the rate of Israel's foreign exchange reserves from gross domestic product (GDP) increased from 37 percent in 2022 to 40.4 percent in 2023.
The authors noted that the central bank sold 8.5 billion dollars from the foreign exchange reserves, adding that the sales were part of a plan involving foreign exchange sales totaling up to 30 billion dollars, which is intended to help stabilize the foreign exchange and financial markets.
According to the bank, the yearly rise in foreign exchange reserves mostly came from gains on stocks and bonds. ■
