Israeli reserves fall sharply on dollar liquidity provision

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David Vaaknin

The Bank of Israel’s international reserves portfolio declined by $5.1 billion in March, largely due to the impact of the shekel/dollar swap it approved on March 18.

The central bank’s portfolio fell to $126 billion. The institution injected short-term dollar credit of $7.5 billion as part of the swap transactions programme.

Due to the economic paralysis brought by government-mandated lockdowns worldwide in response to Covid-19, banks and businesses worldwide are struggling to maintain their

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