Foreign Exchange Reserves at the Bank of Israel, October 2018

Israel’s foreign exchange reserves at the end of October 2018 stood at $113,911 million, a decrease of $1,547 million from their level at the end of the previous month. The reserves represent 31.1 percent of GDP (Figure 1).

 

The decrease was the result of:

a.       Private sector transfers of approximately $14 million.

b.      A revaluation[1] that decreased the reserves by approximately $1,905 million.

 

In contrast, the decrease was offset by:

a.       Foreign exchange purchases by the Bank of Israel totaling $117 million, all of which were part of the purchase program intended to offset the effects of natural gas production on the exchange rate.

b.      Government transfers from abroad totaling about $255 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

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

113,340c

1,492

114,832c

July 2018

12,750

114,292

1,490

115,782

August 2018

12,923

114,520

1,485

116,005

September 2018

12,939

113,980c

1,478

115,458c

October 2018

13,056

112,446

1,465

113,911



[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.​