JERUSALEM, June 7 (Xinhua) -- Israel's foreign exchange reserves increased to about 199.81 billion U.S. dollars at the end of May, up from 197.63 billion dollars in April, according to the figures issued by the Bank of Israel on Tuesday.

       This is the first monthly rise in Israel's forex reserves after four consecutive monthly drops that followed an all-time high of about 213 billion dollars recorded in December 2021, according to the Israeli central bank.

       The total reserves represent 39.9 percent of Israel's GDP, compared to 41 percent reported last month, the bank noted.

       The bank explained that the increase was the result of a revaluation that increased the reserves by 1.01 billion dollars, in addition to the government transfers from abroad totaling about 1.27 billion dollars.

       In contrast, the increase was slightly offset by private sector transfers of 102 million dollars, the bank said.