Foreign Exchange Reserves in the Bank of Israel, December 2014

Israel’s foreign exchange reserves at the end of December 2014 stood at $86,105 million, a decline of $223 million from their level at the end of November.

The decline was the result of:
a.       Government transfers to abroad of about $489 million.
b.      A revaluation* that decreased the reserves by about $745 million.
These were partly offset by:
a.       A decrease of $566 million derived from private sector transactions.
b.      Foreign currency purchases by the Bank of Israel totaling $445 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.
 

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***
Total
December  2012
-
74,040**
1,866
75,906**
January  2013
-
76,534**
1,879
78,413**
February
-
75,429
1,846
77,275
March
-
75,142
1,825
76,967
April
-
75,327
1,819
77,146
May
230
75,832
1,818
77,650
June
470
76,390
1,830
78,220
July
725
77,202
1,869
79,071
August
1,015
76,650
1,869
78,519
September
1,250
78,009
1,893
79,902
October
1,570
78,325
2,246
80,571
November
1,770
78,321
2,268
80,589
December
2,100
79,591**
2,199
81,790**
January  2014
2,330
81,002**
2,163
83,165**
February 
2,680
81,956**
2,019
83,975**
March
2,975
83,552
2,018
85,570
April
3,265
84,479**
2,001
86,480**
May
3,560
84,485
1,993
86,478
June
3,850
84,845
1,968
86,813
July
4,140
85,190
1,949
87,139
August
4,725
85,700
1,928
87,628
September
4,725
84,298
1,890
86,188
October
5,005
84,531
1,885
86,416
November
5,155
84,470
1,858
86,328
December
5,600
84,346
1,759
86,105
 
*       This includes Bank of Israel payments and receipts in foreign currency.
**     Updated after the original date of publication.
***   This column includes Special Drawing Rights (SDRs), the balance of NAB loans, and the balance of Israel's reserve tranche in the IMF.