Foreign Exchange Reserves at the Bank of Israel, March 2021

Israel’s foreign exchange reserves at the end of March 2021 stood at $185,690 million, an increase of $635 million from their level at the end of the previous month. The reserves represent 46 percent of GDP (Figure 1).

 

The increase was the result of:

a.       Foreign exchange purchases by the Bank of Israel totaling $1,983 million.

b.      Private sector transfers of approximately $7 million.

c.       Government transfers from abroad totaling approximately $339 million.

 

In contrast, the increase was partly offset by a revaluation^[1] that decreased the reserves by approximately $1,694 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
March 2020	124,231c	1,710	125,941c
April 2020	131,755c	1,792	133,547c
May 2020	140,650	1,863	142,513
June 2020	145,499	1,838	147,337
July 2020	155,772c	1,891	157,663c
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	183,674	2,016	185,690

 

 

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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.​