Foreign Exchange Reserves in the Bank of Israel, April 2017


Israel’s foreign exchange reserves at the end of April 2017 stood at $105,139 million, an increase of $1,968 million from their level at the end of the previous month. The reserves represent 33 percent of GDP (Figure 1).

 

The increase was the result of:

a.       Foreign currency purchases by the Bank of Israel totaling $900 million, of which $250 million were purchased as part of the purchase program intended to offset the effects of natural gas production on the exchange rate.

b.      A revaluation[1] that increased the reserves by about $1,028 million.

c.       Government transfers from abroad totaling about $45 million.

 

The increase was offset by private sector transfers of about $5 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

April 2016

9,300

94,378c

1,306

95,684c

May 2016

9,600

95,170

1,293

96,463

June 2016

9,600

95,594

1,041

96,635

July 2016

9,900

96,356

1,037

97,393

August 2016

9,900

96,588

1,038

97,626

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

100,428c

1,183

101,611c

February 2017

10,750

100,841 c

1,179

102,020c

March 2017

10,750

101,989c

1,182

103,171c

April 2017

11,000

103,946

1,193

105,139

 

 

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–17

fr7517e.png



[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.