Dollar at 24-Year Low: Bank of Israel Intervenes
Tuesday, December 22, 2020 8:11 am |
< 1 Minute Read
The announcement of elections did nothing to weaken the shekel, which has become one of the strongest currencies worldwide.
The U.S. dollar fell 0.7% to NIS 3.227 – the lowest since November 1996. On Tuesday, the Bank of Israel intervened in foreign exchange trading and purchased approximately a quarter of a billion dollars in an attempt to stop the currency from collapsing.
Economists forecast the possibility of a dollar exchange rate of three shekels in the coming weeks.
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