The Financial institution of Israel took the capital markets unexpectedly on Monday and left its base lending-rate unchanged at 0.25%. No much less surprisingly, it additionally intervened within the overseas foreign money market in large solution to weaken the shekel.
The financial institution didn’t say how a lot overseas foreign money it purchased, however market estimates are that the quantity was vital, inflicting the shekel-dollar charge to gyrate in direction of the tip of the buying and selling day.
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