BoI intervenes massively in currency trading

By HILLEL KOREN / GLOBES
April 14, 2011 12:54

 
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The Bank of Israel intervened strongly in foreign exchange trading Thursday. According to market estimates, the central bank bought hundreds of millions of dollars, after the shekel-dollar rate neared the psychologically significant NIS 3.4/$ level. The rate is still at its lowest since September 2008.

After the Bank of Israel's intervention, the exchange rate jumped to over NIS 3.42/$, 0.2% higher than yesterday's representative rate. The shekel-euro rate is flat at around

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