By: Eran Bar-Tal – Jewish News Syndicate; jns.org
Despite the development, the Bank of Israel has avoided interfering in the market, and its governor has remained ambiguous about possible future intervention.
The U.S. dollar hit a 25-year low against the shekel on Tuesday, officially dropping below the benchmark that the Bank of Israel had hoped to avoid crossing. The euro also dropped sharply against the shekel and was traded on Tuesday at an exchange rate of 3.511 shekels to 1 euro.
At the end of official trading, the Bank of Israel (BOI) set the dollar-to-shekel exchange rate at $1 to 3.09 shekels. The dollar lost -0.387 percent of its value in total against the shekel on Tuesday.
Despite the development, the BOI has avoided interfering in the market, and BOI Gov. Amir Yaron has remained ambiguous about possible future intervention.
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https://www.jns.org/us-dollar-hits-25-year-low-against-israeli-shekel/