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Israel’s foreign exchange reserves at the end of December 2025 stood at $229,484 million, a decline of $1,941 million from their level at the end of the previous month. The level of the reserves relative to GDP was 39.4 percent (Figure 1).

 

The decline was mainly explained by foreign exchange activity by the government totaling about $3,483 million. This decline was partly offset by a revaluation[1] of the reserves totaling approximately $1,509 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

December 2025

224,831

4,653

229,484

November 2025

226,794

4,631

231,425

October 2025

227,295

4,659

231,954

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

 

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.