Foreign Exchange Reserves at the Bank of Israel, May 2019

Israel’s foreign exchange reserves at the end of May 2019 stood at $118,124 million, a decrease of $619 million from their level at the end of the previous month. The reserves represent 31.9 percent of GDP (Figure 1).

The decrease was the result of:

a.       A revaluation[1] that decreased the reserves by approximately $771 million.

b.      Private sector transfers of approximately $7 million

In contrast, the decrease was offset by:

a.       Government transfers from abroad totaling approximately $109 million.

b.      Foreign exchange purchases by the Bank of Israel totaling $50 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

May 2018

113,239

1,461

114,700

June 2018

113,340c

1,492

114,832c

July 2018

114,292

1,490

115,782

August 2018

114,520

1,485

116,005

September 2018

113,980c

1,478

115,458c

October 2018

112,446

1,465

113,911

November 2018

113,405

1,651

115,056

December 2018

113,525c

1,754c

115,279

January 2019

116,418c

1,735

118,153c

February 2019

116,218c

1,721

117,939c

March 2019

116,514c

1,705

118,219c

April 2019

117,044

1,699

118,743

May 2019

116,485

1,639

118,124

 

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–19

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[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.