Israel’s foreign exchange reserves at the end
of November 2021 stood at $208,769 million, an increase of $1,296 million from
their level at the end of the previous month. The level of the reserves relative
to GDP was 45.9 percent (Figure 1).
The increase
was the result of:
a.
Foreign exchange purchases by the Bank of
Israel totaling approximately $4,004 million.
b.
Private sector transfers of approximately $25 million.
In contrast, the increase was partly offset by:
a.
A revaluation[1]
that decreased the reserves by approximately $2,270 million.
b.
Government transfers to abroad totaling
approximately $463 million.
Israel's Foreign Exchange Reserves ($ million)
|
Date
|
Reserves excluding IMF
(including reserves bought under the natural gas purchase program)
|
Reserves at the IMF
|
Total Foreign Exchange Reserves
|
|
November 2020
|
165,033c
|
1,914
|
166,947c
|
|
December 2020
|
171,242c
|
2,055
|
173,297c
|
|
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
|
4,617
|
208,769
|
This column includes Special Drawing Rights (SDRs), the balance of
NAB loans, and the balance of Israel's reserve tranche at the IMF.
Updated after the original date of publication.
d On
August 23, 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.