BREAKING NEWS

Operation Twist weakens shekel against dollar

By GLOBES / INBAL OMER

SEPTEMBER 22, 2011 11:02

The shekel weakened against the dollar but strengthened against the euro in morning inter-bank trading Thursday. The shekel-dollar exchange rate was up 0.70% to NIS 3.715/$, and the shekel-euro exchange rate was down 0.15% to NIS 5.029/€.

In international markets, the dollar was rising against the euro, trading at $1.35//€.

Wednesday, US Federal Reserve Board Chairman Ben S. Bernanke announced Operation Twist, a new stimulus package: changing the mix of T-Bills it holds - a $2.8 trillion portfolio. The Fed will buy $400 billion in long-term Treasury bonds, paid for by selling an equal amount of short-term bonds.

The Fed also kept its interest rate unchanged at 0-0.25%, as expected after it said last month that it would not change the interest rate before mid-2013.

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