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
April 20, 2022 at 5:38 AM EDT

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.

Starting this year, the currency mix will expand from the trio of the U.S. dollar, the euro and the British pound to include the Canadian and Australian dollars as well as the yen and the yuan, which is also known as the renminbi. The additions mark a change in the Bank of Israel’s “whole investment guidelines and philosophy,” Deputy Governor Andrew Abir said in an interview.

New Mix
The Bank of Israel is adding 4 new currencies to its FX holdings in 2022

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Source: Bloomberg, Bank of Israel

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https://www.bloomberg.com/news/articles/...ilosophy-change