Bank of Israel : Foreign Exchange Reserves at the Bank of Israel, December 2020

Israel's foreign exchange reserves at the end of December 2020 stood at $173,307 million, an increase of $6,360 million from their level at the end of the previous month. The reserves represent 43.3 percent of GDP (Figure 1).

The increase was the result of:

a. Foreign exchange purchases by the Bank of Israel totaling $4,405 million.

b. A revaluation^[1] that increased the reserves by approximately $2,284 million.

In contrast, the increase was partly offset by:

a. Private sector transfers of approximately $78 million.

b. Government transfers to abroad totaling approximately $251 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
December 2019	124,253c	1,761c	126,014c
January 2020	128,234c	1,744	129,978c
February 2020	129,451c	1,725	131,176c
March 2020	124,231c	1,710	125,941c
April 2020	131,755c	1,792	133,547c
May 2020	140,650	1,863	142,513
June 2020	145,499	1,838	147,337
July 2020	155,772c	1,891	157,663c
August 2020	159,789	1,899	161,688
September 2020	158,700	1,884	160,584
October 2020	158,859c	1,889	160,748c
November 2020	165,033c	1,914	166,947c
December 2020	171,252	2,055	173,307

^aIncludes Bank of Israel payments and receipts in foreign currency.

bThis column includes Special Drawing Rights (SDRs), the balance of NAB loans, and the balance of Israel's reserve tranche at the IMF.

cUpdated after the original date of publication.​