Bank of Israel increases FX interventions to tame shekel

bank-of-israel4
David Vaaknin

The Bank of Israel bought $4.4 billion of foreign exchange in December, its highest level since 2009, according to official data released on January 7.

The BoI carries out its FX purchases for two main reasons. It aims to offset the rise of the shekel against the US dollar, and to finance higher government expenditure due to the Covid-19 crisis.

As a result of these interventions, the BoI’s international reserves portfolio reached a new record high of $173.3 billion, or 43.3% of Israel’s GDP.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.