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Israel’s foreign exchange reserves at the end of November 2023 stood at $198,169 million, an increase of $6,934 million from their level at the end of the previous month. The level of the reserves relative to GDP was 38.3 percent (Figure 1).
The increase was mainly the result of a revaluation[1] that increased the reserves by approximately $7,261 million.
The increase was partly offset by:
- Foreign exchange sales by the Bank of Israel totaling $338 million;[2]
- Government transfers to abroad totaling approximately $70 million.
Israel's Foreign Exchange Reserves ($ million)
|
Date |
Reserves excluding IMF (including reserves bought under the natural gas purchase program) |
Reserves at the IMF[3] |
Total Foreign Exchange Reserves |
|
November 2023 |
193,590 |
4,579 |
198,169 |
|
October 2023 |
186,675 |
4,560 |
191,235 |
|
September 2023 |
194,025 |
4,528d |
198,553d |
|
August 2023 |
198,338 |
4,518 |
202,856 |
|
July 2023 |
200,086d |
4,579 |
204,665d |
|
June 2023 |
197,363d |
4,513 |
201,876d |
|
May 2023 |
195,100 |
4,521 |
199,621 |
|
April 2023 |
197,390 |
4,505 |
201,895 |
|
March 2023 |
195,951d |
4,535 |
200,486d |
|
February 2023 |
191,987d |
4,292 |
196,279d |
|
January 2023 |
196,460d |
4,525d |
200,985d |
|
December 2022 |
189,742d |
4,476d |
194,218d |
|
November 2022 |
189,997 |
4,421d |
194,418d |
Figure 1
Level of foreign exchange reserves, and their ratio to GDP, 2007–2023
a Includes Bank of Israel payments and receipts in foreign currency.
[2] Within the framework of the $30 billion foreign exchange sales program that the Bank announced on October 9, 2023: https://www.boi.org.il/en/communication-and-publications/press-releases/a09-10-23/
c This column includes Special Drawing Rights (SDRs), the balance of NAB loans, and the balance of Israel's reserve tranche at the IMF.
d Updated after the original date of publication.