Foreign Exchange Reserves at the Bank of Israel, July 2023

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Israel’s foreign exchange reserves at the end of July 2023 stood at $204,669 million, an increase of $2,793 million from their level at the end of the previous month. The level of the reserves relative to GDP was 39.4 percent (Figure 1).

The increase was the result of a revaluation^[a] that increased the reserves by approximately $3,158 million.

In contrast, the increase was partly offset by:

1. Government transfers to abroad totaling approximately $354 million
2. Private sector transfers totaling approximately $11 million.

Israel's Foreign Exchange Reserves ($ million)

Date	Reserves excluding IMF (including reserves bought under the natural gas purchase program)	Reserves at the IMF[b]	Total Foreign Exchange Reserves
July 2023	200,090	4,579	204,669
June 2023	197,363c	4,513	201,876c
May 2023	195,100	4,521	199,621
April 2023	197,390	4,505	201,895
March 2023	195,951c	4,535	200,486c
February 2023	191,987c	4,292	196,279c
January 2023	196,460c	4,525c	200,985c
December 2022	189,742c	4,476c	194,218c
November 2022	189,997	4,421c	194,418c
October 2022	184,531	4,311	188,842
September 2022	181,720c	4,274	185,994c
August 2022	187,804	4,347	192,151
July 2022	193,011c	4,458	197,469c

 

^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.

Figure 1

Level of foreign exchange reserves, and their ratio to GDP, 2007–2023