Bank of Israel purchased $1.7b foreign currency in October

• Author: Guy Ben Simon
• Published date: 07 November 2021
• Publication title: Globes (Rishon LeZion, Israel)

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...