July 7, 2020 / 2:12 PM / a month ago

Bank of Israel buys $1.445 bln of FX in June, reserves top $147 bln

JERUSALEM, July 7 (Reuters) - The Bank of Israel said on Tuesday it bought $1.445 billion of foreign currency in June to help push its forex reserves up to a record $147.3 billion.

In a bid to contain the shekel’s gains, the central bank has bought more than $10 billion of foreign currency this year.

The central bank also said it had bought 23.4 billion shekels ($6.8 billion) of government bonds through June 30 as part of a plan to buy up to 50 billion shekels it announced in March in an aim to calm financial markets. That is up from 19.2 billion shekels at the end of May.

It also conducted repo transactions with bonds as collateral of 1.5 billion shekels, while its balance of dollar-shekel swaps on June 30 was $4.5 billion. ($1 = 3.4520 shekels) (Reporting by Steven Scheer Editing by Ari Rabinovitch)

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