Israel's central bank sells $30 billion in foreign reserves after shekel slides to seven-year low
Publishing timestamp: 2023-10-09 03:56:19
Summary
The Bank of Israel plans to sell up to $30 billion in foreign reserves to support the Israeli shekel, which has weakened following a deadly incursion by Hamas militants. The bank will also provide liquidity through SWAP mechanisms. The Israeli economy is expected to recover within a week or two, but the currency may be devalued due to increased risk.
Sentiment: NEUTRAL
Tickers: ILS=,
Keywords: us dollar/israeli shekel fx spot rate, israel, world economy, economy, central banking, breaking news: economy, business news, defense,