Foreign Exchange Reserves at the Bank of Israel, December 2023

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.

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Israel’s foreign exchange reserves at the end of December 2023 stood at $204,637 million, an increase of $6,468 million from their level at the end of the previous month. The level of the reserves relative to GDP was 39.5 percent (Figure 1).

 

The increase was mainly the result of:

1. A revaluation[1] that increased the reserves by approximately $5,700 million.
2. The government’s foreign exchange activities totaling approximately $705 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 2023	200,065	4,572	204,637
November 2023	193,590	4,579	198,169
October 2023	186,675	4,560	191,235
September 2023	194,025	4,528d	198,553c
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

 

 

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.