Bank of Israel buys foreign currency to weaken shekel

A strong shekel is becoming Startup Nation’s next challenge

When the Bank of Israel disclosed last week that it had purchased approximately $800 million in May to control the dollar's slide, the announcement pointed to something more fundamental about the economy Israel has spent two decades building.The dollar had fallen to 2.799 NIS, a level that alarmed exporters and high-tech companies whose revenues arrive in dollars but whose costs are denominated in shekels. The Bank of Israel, acting under its ma…

Bank of Israel buys $800 million in FX intervention as shekel volatility intensifies

Central bank steps into currency markets while insisting it is not targeting a specific exchange rate.

Bank of Israel buys foreign currency to weaken shekel

The Bank of Israel ended May with record foreign exchange reserves after intervening to purchase foreign currency.

In first since 2022, Bank of Israel buys foreign currency to stem sharp shekel gain

For the first time since 2022, the Bank of Israel intervened in the foreign exchange market, buying $801 million in May in a bid to curb the sharp …