Israel unveils measures to brace against inflows

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The Bank of Israel has announced two measures designed to clamp down on hot money inflows spurred by the relatively high interest rates on offer in the country.

The central bank said on Thursday that banks operating in Israel will have to hold the equivalent of 10% of their foreign exchange derivatives transactions carried out on behalf of non-residents in reserve. On Wednesday, the Bank of Israel unveiled reporting requirements for both Israeli residents and non-residents on foreign exchange sw

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