Israel’s foreign exchange reserves at the end
of March 2017 stood at $103,291 million, an increase of $1,271 million from
their level at the end of the previous month. The reserves represent 32.4
percent of GDP (Figure 1).

 

The increase was the result of:

a.      
Foreign currency purchases by the Bank of
Israel totaling $1,585 million

b.      A
revaluation[1] that increased the reserves by about
$549 million.

 

The increase was offset by:

c.      
Government transfers to abroad totaling about $649
million.

d.     
Private sector transfers of about $214 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

March 2016

9,300

93,476c

1,304

94,780c

April 2016

9,300

94,378c

1,306

95,684c

May 2016

9,600

95,170

1,293

96,463

June 2016

9,600

95,594

1,041

96,635

July 2016

9,900

96,356

1,037

97,393

August 2016

9,900

96,588

1,038

97,626

September 2016

9,900

97,380c

1,049

98,429c

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

100,428c

1,183

101,611c

February 2017

10,750

100,841 c

1,179

102,020c

March 2017

10,750

102,109

1,182

103,291

 

 

 

Figure 1

Level of
foreign exchange reserves, and their ratio to GDP, 2007–17

Foreign Exchange Reserves in the Bank of Israel, March 2017

Graphs and Data​

[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.