The increase was the result of:
a. Foreign exchange purchases by the Bank of Israel totaling approximately $1,641 million.
b. An allocation by the IMF4 totaling $2,613 million.
c. A revaluation[1] that increased the reserves by approximately $392 million.
In contrast, the increase was partly offset by:
a. Private sector transfers of approximately $203 million.
b. Government transfers to abroad totaling approximately $226 million.
Israel's Foreign Exchange Reserves ($ million)
|
Date |
Reserves excluding IMF (including reserves bought under the natural gas purchase program) |
Reserves at the IMF[2] |
Total Foreign Exchange Reserves |
|
August 2020 |
159,789 |
1,899 |
161,688 |
|
September 2020 |
158,700 |
1,884 |
160,584 |
|
October 2020 |
158,859c |
1,889 |
160,748c |
|
November 2020 |
165,033c |
1,914 |
166,947c |
|
December 2020 |
171,242c |
2,055 |
173,297c |
|
January 2021 |
177,444c |
2,057 |
179,501c |
|
February 2021 |
182,990c |
2,065 |
185,055c |
|
March 2021 |
183,664c |
2,016 |
185,680c |
|
April 2021 |
191,957c |
2,043 |
194,000c |
|
May 2021 |
196,348 |
2,002 |
198,350 |
|
June 2021 |
198,192 |
1,983 |
200,175 |
|
July 2021 |
199,709c |
1,986 |
201,695c |
|
August 2021 |
201,310 |
4,602d |
205,912 |
a 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.
d On August 23, the International Monetary Fund allocated approximately $2.6 billion to Israel, as part of the IMF allocation to all of the organization’s member countries totaling $650 billion. Together with this increase in IMF reserves, a long-term liability to the IMF—in the amount that was allocated—was added to the Bank of Israel balance sheet.