Foreign Exchange Reserves at the Bank of Israel, June 2022

Israel’s foreign exchange reserves at the end of June 2022 stood at $193,810 million, a decrease of $5,998 million from their level at the end of the previous month. The level of the reserves relative to GDP was 38.7 percent (Figure 1).

 

The decrease was the result of a revaluation^[1] that decreased the reserves by approximately $6,739 million.

 

In contrast, the decrease was partly offset by:

a.       Private sector transfers of approximately $348 million.

b.      Government transfers from abroad totaling approximately $393 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
June 2021	198,192	1,983	200,175
July 2021	199,709c	1,986	201,695c
August 2021	201,305c	4,602d	205,907c
September 2021	199,430c	4,550	203,980c
October 2021	202,892	4,581	207,473
November 2021	204,152	4,618c	208,770c
December 2021	208,320c	4,673	212,993c
January 2022	204,149c	4,588	208,737c
February 2022	202,461c	4,587	207,048c
March 2022	201,619c	4,544	206,163c
April 2022	193,213	4,417	197,630
May 2022	195,361	4,447	199,808
June 2022	189,384	4,426	193,810

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^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, 2021, the International Monetary Fund allocated approximately $2.6 billion to Israel, as part of the IMF’s $650 billion allocation to all of the organization’s member countries. Together with this increase in reserves at the IMF, a long-term liability to the IMF—in the amount that was allocated—was added to the Bank of Israel balance sheet.​