Foreign Exchange Reserves at the Bank of Israel, August 2019

Israel’s foreign exchange reserves at the end of August 2019 stood at $119,823 million, a decline of $171 million from their level at the end of the previous month. The reserves represent 31.9 percent of GDP (Figure 1).

 

The decline was the result of:

a.       A revaluation[1] that lowered the reserves by approximately $15 million.

b.      Private sector transfers of approximately $3 million.

c.       Government transfers to abroad totaling approximately $155 million.

 

In contrast, the decline was partly offset by foreign exchange purchases by the Bank of Israel totaling $2 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

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

June 2019

118,460

1,648

120,108

July 2019

118,309

1,685

119,994

August 2019

118,147

1,676

119,823

 

 

 

 

 

 

Figure 1

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

 5919e.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.