Fischer, who is 68, has served in senior positions in global economic organizations, among them as chief economist at the World Bank, and Deputy Director General at the International Monetary Fund (IMF). In May 2005, Fischer was appointed Governor of the Bank of Israel, and in 2010 he was appointed unanimously to a second term.
In 2011, Fischer applied to replace Dominique Strauss-Kahn as IMF president, but was disqualified due to his age.
Shimon Peres will finish his term as president of Israel in 2014.
The Bank of Israel said, "The Bank of Israel and the Governor know nothing about the subject, and the announcement is baseless."
The president who is the ceremonial head of state is elected in a secret ballot by a simple majority of Knesset members.
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