The Bank of Israel has intervened aggressively in foreign currency trading this morning, following the dramatic strengthening of the shekel against the major currencies in the past two days, which continued into early trading today.
The shekel-dollar exchange rate is currently up 0.35% in comparison with yesterday's representative rate, at NIS 3.774/$, after the Bank of Israel bought $250 million. Before the intervention by the central bank, the shekel-dollar rate fell by 0.2% this morning, to NIS 3.753/$. The shekel-euro rate is up 0.1%, at NIS 4.222/€, after earlier falling 0.2% to NIS 4.211/€.
After the Bank of Israel's interest rate announcement on Monday and the press conference that followed, the shekel-dollar rate fell by 1.7% and the shekel-euro rate by 3% in two days.
Published by Globes [online], Israel business news - www.globes-online.com - on June 25, 2015
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