Bank of Israel increases FX interventions to tame shekel
Central bank’s foreign reserves reach new record level
The Bank of Israel bought $4.4 billion of foreign exchange in December, its highest level since 2009, according to official data released on January 7.
The BoI carries out its FX purchases for two main reasons. It aims to offset the rise of the shekel against the US dollar, and to finance higher government expenditure due to the Covid-19 crisis.
As a result of these interventions, the BoI’s international reserves portfolio reached a new record high of $173.3 billion, or 43.3% of Israel’s GDP.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com