Foreign Exchange Reserves at the Bank of Israel, May 2022

Israel’s foreign exchange reserves at the end of May 2022 stood at $199,808 million, an increase of $2,178 million from their level at the end of the previous month. The level of the reserves relative to GDP was 39.9 percent (Figure 1).

 

The increase was the result of:

a.       A revaluation[1] that increased the reserves by approximately $1,008 million.

b.      Government transfers from abroad totaling approximately $1,272 million.

 

In contrast, the increase was partly offset by private sector transfers of approximately $102 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

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

208,320c

4,673

212,993c

January 2022

204,149c

4,588

208,737c

February 2022

202,461c

4,587

207,048c

March 2022

201,619c

4,544

206,163c

April 2022

193,213

4,417

197,630

May 2022

195,361

4,447

199,808

 

 

 

 

 

 

 

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–22

 



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’s $650 billion allocation to all of the organization’s member countries. 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.​