Economics
Israel Adds Yuan to $206 Billion Reserves in ‘Philosophy’ Change
- Canadian, Australian, Japanese currencies also added to basket
- Bank of Israel is moving to reduce allocation for dollar, euro
The Central Bank of Israel in Jerusalem, Israel.
Photographer: Kobi Wolf/BloombergThis article is for subscribers only.
Sign up for our Middle East newsletter and follow us @middleeast for news on the region.
Israel’s central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last year exceeded $200 billion for the first time ever.