{"id":70512,"date":"2023-10-09T08:28:43","date_gmt":"2023-10-09T12:28:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bank-of-israel-to-sell-up-to-30-billion-in-foreign-exchange-as-shekel-tumbles\/"},"modified":"2023-10-09T08:28:46","modified_gmt":"2023-10-09T12:28:46","slug":"bank-of-israel-to-sell-up-to-30-billion-in-foreign-exchange-as-shekel-tumbles","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70512","title":{"rendered":"Bank of Israel to sell up to $30 billion in foreign exchange as shekel tumbles"},"content":{"rendered":"
\n

Israel\u2019s central bank said it will sell up to $30 billion in foreign exchange to support the shekel, which has tumbled in the wake of Hamas\u2019s surprise attack on the country.<\/p>\n

\u201cThe 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,\u201d the Bank of Israel said in a statement on its website on Monday. <\/p>\n

\n

In addition to the $30 billion, the Bank of Israel said it would provide liquidity to the market via swap mechanisms of up to $15 billion. <\/p>\n

The shekel
\n USDILS,
\n +1.99%<\/bg-quote>
\n was down 1.2% on Monday to 3.9011 U.S. dollars, its weakest in seven years. <\/p>\n

Israel stepped up its bombing of the Gaza Strip on Monday after declaring war following the attack on Saturday morning. At least 700 people have reportedly died in Israel and more than 400 in Gaza since the outbreak of fresh violence in the region.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Israel\u2019s central bank said it will sell up to $30 billion in foreign exchange to support the shekel, which has tumbled in the wake of Hamas\u2019s surprise attack on the country. \u201cThe Bank will operate in the market during the coming period in order to moderate volatility in the shekel exchange rate and to provide […]<\/p>\n","protected":false},"author":1,"featured_media":70513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-70512","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBank of Israel to sell up to $30 billion in foreign exchange as shekel tumbles | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Israel\u2019s central bank said it will sell up to $30 billion in foreign exchange to support the shekel, which has tumbled 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