Israel’s foreign exchange reserves at the end of January 2020 stood at $129,965 million, an increase of $3,951 million from their level at the end of the previous month. The reserves represent 33.8 percent of GDP (Figure 1).
The increase was the result of:
a. Foreign exchange purchases by the Bank of Israel totaling $2,951 million.
b. Government transfers from abroad totaling approximately $1,166 million.
c. Private sector transfers of approximately $5 million.
In contrast, the increase was partly offset by a revaluation[1] that decreased the reserves by approximately $171 million.
Israel's Foreign Exchange Reserves ($ million)
Date |
Reserves excluding IMF (including reserves bought under the natural gas purchase program) |
Reserves at the IMF[2] |
Total Foreign Exchange Reserves |
January 2019 |
116,418c |
1,735 |
118,153c |
February 2019 |
116,218c |
1,721 |
117,939c |
March 2019 |
116,514c |
1,705 |
118,219c |
April 2019 |
117,044 |
1,699 |
118,743 |
May 2019 |
116,485 |
1,639 |
118,124 |
June 2019 |
118,460 |
1,648 |
120,108 |
July 2019 |
118,309 |
1,685 |
119,994 |
August 2019 |
118,134c |
1,678c |
119,812 |
September 2019 |
117,797c |
1,672 |
119,469c |
October 2019 |
119,671 |
1,690 |
121,361 |
November 2019 |
120,702 |
1,681 |
122,383 |
December 2019 |
124,253c |
1,761c |
126,014c |
January 2020 |
128,221 |
1,744 |
129,965 |
Level of foreign exchange reserves, and their ratio to GDP, 2007–20
[1] Includes Bank of Israel payments and receipts in foreign currency.
[2] 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.