Israel’s Central Bank Moves to Support Shekel
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Israel’s central bank said it planned to sell up to $30 billion in foreign currencies to stabilize the local currency. The bank will also provide an additional $15 billion in liquidity to the market through SWAP mechanisms.
“The Bank will operate in the market during the coming period in order to moderate volatility in the shekel exchange rate,” the Bank of Israel said in a statement.
The shekel rose by about 1.7% on Monday morning. One dollar bought 3.9 shekels on Monday morning.