Reserves in November stood at $198.169 billion and rose in December mainly due to a revaluation that increased the reserves by $5.4 billion. The Bank of Israel has been trying to contain the shekel'svolatility all year and prevent further depreciation, which impacts inflation. The shekel had depreciated 10% in 2023 until the war broke out and then another 5% to weaken to 4.08 per dollar.
