Bank of Israel purchased $1.7b foreign currency in October

AuthorGuy Ben Simon
Publication Date07 November 2021
Despite these large foreign currency purchases, aimed at moderating the strengthening of the shekel in order to assist exporters, the shekel has risen by 6% in 2021 against the basket of currencies of Israel's major trading partners.

Even though the Bank of Israel declared in January that it would buy $30 billion in foreign currency this year, Governor Prof. Amir Yaron has subsequently said that it would not hesitate to exceed that amount if necessary. October's purchase of $1.7 billion in foreign currency followed purchases of $1.65 billion...

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