BOI to stop shekel-dollar options

The Bank of Israel said Sunday that it would stop conducting tenders to sell shekel-dollar options at the beginning of September.

By DANIEL KENNEMER
August 22, 2006 06:40

 
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The Bank of Israel said Sunday that it would stop conducting tenders to sell shekel-dollar options at the beginning of September. The central bank has sold the options through tenders since 1989, and currently sells "call" options to acquire and "put" options to sell currency for six-month periods. However, a study by the bank's monetary division indicated that its involvement in options had achieved the Bank of Israel's goals of developing the market and providing a marker for similar options, allowing the intervention to come to an end. The market "developed greatly in the last few years," the central bank said.

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