Foreign Exchange Reserves at the Bank of Israel, September 2023

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Israel’s foreign exchange reserves at the end of September 2023 stood at $198,555 million, a decrease of $4,301 million from their level at the end of the previous month. The level of the reserves relative to GDP was 38.1 percent (Figure 1).

The decline was mainly the result of a revaluation[1] that decreased the reserves by approximately $3,912 million, and by government transfers to abroad totaling approximately $409 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 2023	194,025	4,530	198,555
August 2023	198,338	4,518	202,856
July 2023	200,086c	4,579	204,665c
June 2023	197,363c	4,513	201,876c
May 2023	195,100	4,521	199,621
April 2023	197,390	4,505	201,895
March 2023	195,951c	4,535	200,486c
February 2023	191,987c	4,292	196,279c
January 2023	196,460c	4,525c	200,985c
December 2022	189,742c	4,476c	194,218c
November 2022	189,997	4,421c	194,418c
October 2022	184,531	4,311	188,842
September 2022	181,720c	4,274	185,994c

 

 

 

 

 

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–2023

 

[1] Includes 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.