Foreign Exchange Reserves at the Bank of Israel, January 2022

Israel’s foreign exchange reserves at the end of December 2021 stood at $208,751 million, a decrease of $4,247 million from their level at the end of the previous month. The level of the reserves relative to GDP was 45.7 percent (Figure 1).

 

The decrease was the result of:

a.      A revaluation[1] that decreased the reserves by approximately $3,745 million.

b.     Private sector transfers of approximately $2,161 million.

 

In contrast, the decrease was partly offset by:

a.      Foreign exchange purchases by the Bank of Israel totaling approximately $356 million.

b.     Government transfers from abroad totaling approximately $1,303million.

 

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

January 2021

177,444c

2,057

179,501c

February 2021

182,990c

2,065

185,055c

March 2021

183,664c

2,016

185,680c

April 2021

191,957c

2,043

194,000c

May 2021

196,348

2,002

198,350

June 2021

198,192

1,983

200,175

July 2021

199,709c

1,986

201,695c

August 2021

201,305c

4,602d

205,907c

September 2021

199,430c

4,550

203,980c

October 2021

202,892

4,581

207,473

November 2021

204,152

4,618c

208,770c

December 2021

208,325c

4,673

212,998c

January 2022

204,163

4,588

208,751

 

 



a Includes Bank of Israel payments and receipts in foreign currency.

b 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.

d On August 23, 2021, the International Monetary Fund allocated approximately $2.6 billion to Israel, as part of the IMF allocation to all of the organization’s member countries totaling $650 billion. Together with this increase in reserves at the IMF, a long-term liability to the IMF—in the amount that was allocated—was added to the Bank of Israel balance sheet.​