BoI intervenes massively in currency trading

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