The increase was the result of:
a. Foreign currency purchases by the Bank of Israel totaling $260 million, all of which were purchased as 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 $42 million.
The increase was offset by:
a. Private sector transfers of about $8 million.
b. A revaluation[1] that decreased the reserves by about $36 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 2016 |
10,200 |
96,931 |
1,032 |
97,963 |
|
November 2016 |
10,200 |
95,948 |
1,179 |
97,127 |
|
December 2016 |
10,500 |
97,275c |
1,172c |
98,447c |
|
January 2017 |
10,500 |
100,430c |
1,183 |
101,613c |
|
February 2017 |
10,750 |
100,843 c |
1,179 |
102,022c |
|
March 2017 |
10,750 |
101,992c |
1,182 |
103,174c |
|
April 2017 |
11,000 |
103,949c |
1,193 |
105,142c |
|
May 2017 |
11,250 |
106,163 |
1,204 |
107,367 |
|
June 2017 |
11,390 |
107,499 |
1,207 |
108,706 |
|
July 2017 |
11,540 |
108,733c |
1,377 |
110,110c |
|
August 2017 |
11,540 |
109,642 |
1,378 |
111,020 |
|
September 2017 |
11,740 |
109,678 |
1,373 |
111,051 |
|
October 2017 |
12,000 |
109,943 |
1,366 |
111,309 |
Figure 1
Level of foreign exchange reserves, and their ratio to GDP, 2007–17
[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 in the IMF.
c Updated after the original date of publication.