Israel’s foreign exchange reserves at the end of December 2020 stood at US$173,307 million, an increase of US$6,360 million from their level at the end of the previous month. The reserves represent 43.3 percent of GDP.
According to the Bank of Israel, the increase was the result of foreign exchange purchases by the Bank of Israel totaling US$4,405 million and a revaluation that increased the reserves by approximately US$2,284 million.
In contrast, the increase was partly offset by private sector transfers of approximately US$78 million and government transfers to abroad totaling approximately US$251 million.
