Shekel-dollar rate jumps as Bank of Israel intervenes

By KOBY YESHAYAHOU/ GLOBES
December 8, 2010 15:25

The Bank of Israel again intervened in the foreign currency market this morning, buying tens of millions of dollars. The intervention boosted the shekel-dollar exchange rate by 0.53% in morning inter-bank trading to NIS 3.642/$, following a small rise at the opening.

The shekel-euro exchange rate fell 0.57% to NIS 4.812/€, due to weakness on Wall Street yesterday on one hand, and a mixed day in Asian markets today on the other.

Yesterday, the Bank of Israel announced that its foreign currency reserves fell to $68.28 billion at the end of November, $1.33 billion less than a month earlier.


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