The Bank of Israel has released the latest data on foreign exchange reserves for December. Israel is solid with slight losses.
But, the reserves have grown solidly, from time to time with slight sideways movements. All in all very progressive. The figure below shows the over-all trend.
“Israel’s foreign exchange reserves at the end of December 2022 stood at $194,144 million, a decrease of $274 million from their level at the end of the previous month. The level of the reserves relative to GDP was 37.4 percent (Figure 1).
The decrease was the result of a revaluation that decreased the reserves by approximately $646 million.”, explains the Bank of Israel. Maybe reason for concern are the transfers of private persons from Israel to oversea: “
The Bank of Israels writes by explaining the decrease which was partly offset by:
- Government transfers from abroad totaling approximately $311 million.
- Private sector transfers totaling approximately $61 million.