Bank of Israel to sell $30 billion to stabilise shekel
Exchange rate fell sharply following Hamas attack on October 7
The Bank of Israel (BoI) will carry out a $30 billion foreign exchange intervention programme to stabilise the shekel, it announced today (October 9).
The programme represents around 15.1% of the central bank’s total reserves, which stood at $198 billion in September.
The shekel depreciated by 2% today, following the major attack launched on the country by the Islamist group Hamas from Gaza on October 7. Israeli authorities have confirmed over 700 civilians and troops have been killed.
“The
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