The Bank of Israel again intervened in the market on Friday, buying $50-100 million.
The shekel continued to weaken on Friday, and the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.504/$, up 0.52%, compared with Thursday's rate, and set the shekel-euro representative exchange rate at NIS 4.777/€, up 0.09%.
The Bank of Israel again intervened in the market on Friday, buying $50-100 million in an effort to weaken the shekel.
Foreign currency market sources told "Globes" that the Bank of Israel bought more than $250 million in two rounds on Thursday. "It's working for them at the moment, because the dollar is strengthening on international markets, and many institutions do not have positions because of New Year's Day," a senior foreign currency trader told "Globes".
Published by Globes [online], Israel business news - www.globes-online.com - on January 5, 2014
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