USD/ISL: Israeli Shekel pauses sell-off after Bank of Israel plans to sell up to $30 billion in forex

In a bid to support the market following the Hamas military attacks over the weekend, the Bank of Israel, the Israeli central bank announced on Monday a program to sell up to $30 billion in forex.

Additional takeaways

Will provide liquidity to the market through swap mechanisms of up to $15 billion as necessary.

Will operate in the market in the coming period to moderate Shekel volatility and provide needed liquidity.

Will continue monitoring developments tracking all of the markets and acting with the tools available to it as necessary.

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