The increase was the result of:
a. Foreign exchange purchases by the Bank of Israel totaling $125 million. All of the purchases were made as part of the purchasing program intended to offset the effect of natural gas production in Israel on the exchange rate.
b. Government transfers from abroad totaling about $31 million.
c. A revaluation[1] that increased the reserves by about $6 million.
In contrast, the increase was offset by:
a. Private sector transfers of about $29 million.
Israel's Foreign Exchange Reserves
$ million
|
Date |
Reserves bought under the natural gas purchase program |
Reserves excluding IMF (including reserves bought under the natural gas purchase program) |
Reserves at the IMF[2] |
Total Foreign Exchange Reserves |
|
June 2017 |
11,390 |
107,499 |
1,207 |
108,706 |
|
July 2017 |
11,540 |
108,733c |
1,377 |
110,110c |
|
August 2017 |
11,540 |
109,642 |
1,378 |
111,020 |
|
September 2017 |
11,740 |
109,678 |
1,373 |
111,051 |
|
October 2017 |
12,000 |
109,943 |
1,366 |
111,309 |
|
November 2017 |
12,000 |
110,734 |
1,345 |
112,079 |
|
December 2017 |
12,000 |
111,487 |
1,524c |
113,011c |
|
January 2018 |
12,000 |
116,100c |
1,522 |
117,622c |
|
February 2018 |
12,304 |
114,783c |
1,510c |
116,293c |
|
March 2018 |
12,447 |
114,609c |
1,518 |
116,127c |
|
April 2018 |
12,471 |
113,872 |
1,482 |
115,354 |
|
May 2018 |
12,625 |
113,239 |
1,461 |
114,700 |
|
June 2018 |
12,750 |
113,341 |
1,492 |
114,833 |
Figure 1
Level of foreign exchange reserves, and their ratio to GDP, 2007–18
[1] This 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.