Israel’s foreign exchange reserves at the end of September 2017 stood at $111,051 million, an increase of $31 million from their level at the end of the previous month. The reserves represent 33.3 percent of GDP (Figure 1).
The increase was the result of:
a. Foreign currency purchases by the Bank of Israel totaling $200 million, all of which were purchased as part of the purchase program intended to offset the effects of natural gas production on the exchange rate.
b. Private sector transfers of about $13 million.
c. A revaluation[1] that increased the reserves by about $156 million.
The increase was offset by government transfers to abroad totaling about $338 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 |
|
September 2016 |
9,900 |
97,380c |
1,049 |
98,429c |
|
October 2016 |
10,200 |
96,931 |
1,032 |
97,963 |
|
November 2016 |
10,200 |
95,948 |
1,179 |
97,127 |
|
December 2016 |
10,500 |
97,275c |
1,172c |
98,447c |
|
January 2017 |
10,500 |
100,430c |
1,183 |
101,613c |
|
February 2017 |
10,750 |
100,843 c |
1,179 |
102,022c |
|
March 2017 |
10,750 |
101,992c |
1,182 |
103,174c |
|
April 2017 |
11,000 |
103,949c |
1,193 |
105,142c |
|
May 2017 |
11,250 |
106,163 |
1,204 |
107,367 |
|
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 |
Figure 1
Level of foreign exchange reserves, and their ratio to GDP, 2007–17
[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 in the IMF.
c Updated after the original date of publication.