Central bank reshuffles forex holdings, reducing dollar and euro exposure.

The central bank of Israel said it is diversifying the country’s foreign exchange holdings by adding the Chinese yuan alongside three other currencies, while slashing the share of the dollar and the euro.

In addition to the yuan, the regulator said it will also add the Canadian and Australian dollars as Israel is seeking to diversify the reserve allocations and “lengthen its investment horizon.”

“We need to look at the need to earn a return on the reserves that will cover the costs of the liability,” Deputy Governor of the Bank of Israel, Andrew Abir, said in an interview with Bloomberg.

The Bank of Israel had previously held only US dollars, euros, and the British pound. Last year, the country’s forex reserves exceeded $200 billion for the first time ever, accounting for a third of Israel’s gross domestic product.

The reshuffle means the euro’s share will fall from 30% to 20%, and the dollar will account for 61%, down from 66.5%.

The yuan will now make up 2% of the holdings, while the Canadian and Australian currencies will have 3.5% each. The share of the British pound will double to 5%, returning to a level last seen in 2011.

Source: https://www.rt.com/business/554254-israel-yuan-reserves-dollar-euro/

Brazil government too have increased their holding in Yuan and same with Saudi.
The USA sanctions on Russia is making countries rethink but Israel’s is getting free 4B dollar every years from USA, why are they increasing the Yuan reserves?

seunny4lif:
Brazil government too have increased their holding in Yuan and same with Saudi.
The USA sanctions on Russia is making countries rethink but Israel’s is getting free 4B dollar every years from USA, why are they increasing the Yuan reserves?

USA needs Israel, not the other way round.

And besides, this Russia sanctions has changed a lot of countries dependence ok the USD.

US just shot themselves in the foot with these sanctions.

The worst is yet to come.

shaggy007:


USA needs Israel, not the other way round.

And besides, this Russia sanctions has changed a lot of countries dependence ok the USD.

US just shot themselves in the foot with these sanctions.

The worst is yet to come.

USA pays Israel $4billion every year to remain peaceful with Egypt. They pay Egypt $1.5billion which includes military hardwares to not attack Israel. USA signed the deal with two of them because they were always attacking each other.

shaggy007:


USA needs Israel, not the other way round.

And besides, this Russia sanctions has changed a lot of countries dependence ok the USD.

US just shot themselves in the foot with these sanctions.

The worst is yet to come.

Willing to explain or debate that nonsense you wrote ? I mean the one in bold?

What exactly does US needs from Isreal?

Mangekyo:


USA pays Israel $4billion every year to remain peaceful with Egypt. They pay Egypt $1.5billion which includes military hardwares to not attack Israel. USA signed the deal with two of them because they were always attacking each other.

Now you’re getting close, but not so accurate. And what does US have to gain from two neighboring countries not fighting ?

sunboy:


Now you’re getting close, but not so accurate. And what does US have to gain from two neighboring countries not fighting ?

Go and ask the parasites in Washington

African countries need to learn their lessons on US sanction on Russia and start diversifying Forex too b4 its too late.

Mangekyo:

Go and ask the parasites in Washington

I thought you knew about what they needed from Isreal why go to them when you’re here to help