Bank of Israel announced that it has completed the purchase of the $ 30 billion it planned to purchase this year

The Bank of Israel  announced that it has completed the purchase of the $ 30 billion it planned to purchase this year. The Governor of the Bank of Israel, Amir Yaron, said that the bank is not limited to purchasing additional dollars. Recall that in recent days the dollar has weakened against the shekel and traded at the level of 3.11 shekels, a low point of 26 years.
At the beginning of the year, in order to deal with the weakening of the dollar against the shekel, the Governor, Amir Yaron, decided that the Bank of Israel would not fight one exchange rate or another, but would moderate the volatility of the exchange rate and the plan to purchase $ 30 billion a year.
Bank Hapoalim said about a week ago that the implementation of the Bank of Israel's dollar purchase program given the program's goals is a dizzying success and allowed exporters or forex players in general to prepare accordingly, purchase protections at reasonable prices or in principle economize their steps according to economic developments. Exchange rates are quite primitive.
Israel's foreign exchange reserves, as of the end of October, stand at $ 207.47 billion, compared with balances of about $ 204 billion at the end of September. To the activity of the Bank of Israel in the years preceding Amir Yaron, then the bank fought over unrealistic exchange rates and became a fertile ground for the activity of speculators.
Amir Yaron reflects a much more realistic approach to the economic reality of less advanced approaches that characterized the Bank of Israel in the past and therefore the Bank's activity in the Yoran era is an activity that moderates fluctuations instead of a futile war on international capital movements.