Bank of Israel head rules out intervention

ISRAEL - Despite the shekel's weakening to a record low against the dollar, Bank of Israel Governor David Klein said the central bank would not intervene in the foreign currency market.

"There is no reason to intervene in the forex market," Klein told reporters at a business conference.

"We do not have an exchange rate target so we do not have any red lines that we cannot cross," he said.

Klein said the danger of a rise in inflation in January was "less of a concern" than the consumer price inde

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