Israel's foreign exchange reserves gained 950 million U.S. dollars in July this year, the country's central bank said Tuesday.

The Bank of Israel (BOI) said the foreign exchange reserves totaled 115,782 million dollars at the end of July, which constituted 32.1 percent of Israel's gross domestic product.

The bank said the increase was fueled by government transfers from abroad totaling 337 million dollars, the revaluation of foreign exchange reserves (including foreign currency payments and receipts) of 602 million dollars, and private sector transfers of 11 million dollars.

No purchases of foreign currency were made by the central bank last month.

In June, Israel's foreign exchange reserves amounted to 114,833 million dollars, 133 million dollars higher than that in May.