KONTAN.CO.ID - JERUSALEM. The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market, in the central bank's first ever sale of foreign exchange, to maintain stability during Israel's war with Palestinian militants in Gaza. The move appeared to quickly calm the market as the shekel recovered from steep early losses. "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.
Bank of Israel to Sell $30 Billion of Forex to Stabilise Shekel Amid Gaza War
KONTAN.CO.ID - JERUSALEM. The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market, in the central bank's first ever sale of foreign exchange, to maintain stability during Israel's war with Palestinian militants in Gaza. The move appeared to quickly calm the market as the shekel recovered from steep early losses. "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.