Israel moves to prop up shekel amid market uncertainty

Israel’s central bank says it will sell up to $30 billion in foreign exchange to prop up the shekel currency following market uncertainty in the wake of Hamas’s incursion from the Gaza Strip.

The central bank issues a statement announcing the plan, saying it “will operate in the market during the coming period in order to moderate volatility in the shekel exchange rate and to provide the necessary liquidity for the continued proper functioning of the markets.”

It adds that it will provide additional liquidity of up to $15 billion in the market as well.

The move comes as the shekel falls to a near eight-year low against the US dollar in early trading today.

Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed
Register for free
and continue reading
Registering also lets you comment on articles and helps us improve your experience. It takes just a few seconds.
Already registered? Enter your email to sign in.
Please use the following structure:
Or Continue with
By registering you agree to the terms and conditions. Once registered, you’ll receive our Daily Edition email for free.
Register to continue
Or Continue with
Log in to continue
Sign in or Register
Or Continue with
check your email
Check your email
We sent an email to you at .
It has a link that will sign you in.