Bank of Israel to sell $30 billion of forex to moderate shekel's volatility
© Reuters. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. Picture taken June 16, 2020. REUTERS/Ronen Zvulun/File photoJERUSALEM - The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market to maintain stability after the country said it was at war with the Palestinian militant group Hamas.
"The bank will operate in the market during the coming period in order to moderate volatility in the shekel exchange rate and to provide the necessary liquidity for the continued proper functioning of the markets," it said in a statement. The central bank also said it would provide liquidity through SWAP mechanisms in the market of up to $15 billion.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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