Foreign Exchange Reserves at the Bank of Israel, June 2018

Israel’s foreign exchange reserves at the end of June 2018 stood at $114,833 million, an increase of $133 million from their level at the end of the previous month. The reserves represent 31.8 percent of GDP (Figure 1).

 

The increase was the result of:

a.       Foreign exchange purchases by the Bank of Israel totaling $125 million.  All of the purchases were made as part of the purchasing program intended to offset the effect of natural gas production in Israel on the exchange rate.

b.      Government transfers from abroad totaling about $31 million.

c.       A revaluation[1] that increased the reserves by about $6 million.

 

In contrast, the increase was offset by:

a.       Private sector transfers of about $29 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

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

October 2017

12,000

109,943

1,366

111,309

November 2017

12,000

110,734

1,345

112,079

December 2017

12,000

111,487

1,524c

113,011c

January 2018

12,000

116,100c

1,522

117,622c

February 2018

12,304

114,783c

1,510c

116,293c

March 2018

12,447

114,609c

1,518

116,127c

April 2018

12,471

113,872

1,482

115,354

May 2018

12,625

113,239

1,461

114,700

June 2018

12,750

113,341

1,492

114,833

 

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–18

 5718e.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 at the IMF.

c Updated after the original date of publication.