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Israel’s foreign exchange reserves at the end of September 2025 stood at $231,880 million, an increase of $1,560 million from their level at the end of the previous month. The level of the reserves relative to GDP was 41.3 percent (Figure 1).

 

The increase was mainly explained by a revaluation[1] of the reserves totaling approximately $2,353 million, which was partly offset by foreign exchange activity by the government totaling about $774 million.

 

Israel's Foreign Exchange Reserves ($ million)

 

Date

Reserves excluding IMF (including reserves bought under the natural gas purchase program)

Reserves at the IMF[2]

Total Foreign Exchange Reserves

September 2025

227,246

4,634

231,880

August 2025

225,694c

4,626

230,320c

July 2025

222,157

4,611

226,768

June 2025

223,651

4,599

228,250

May 2025

219,086c

4,553

223,639c

April 2025

217,489

4,546

222,035

March 2025

214,394c

4,416

218,810c

February 2025

215,898c

4,356

220,254c

January 2025

211,710c

4,358

216,068c

December 2024

210,170c

4,400c

214,570c

November 2024

212,684

4,416

217,100

October 2024

211,638

4,436

216,074

September 2024

215,807

4,570

220,377

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2008–2025

 

[1] Including Bank of Israel payments and receipts in foreign currency.

b This column includes Special Drawing Rights (SDRs), the balance of NAB loans, and the balance of Israel's reserve tranche at the IMF.

c Updated after the original date of publication.