Dollar is worth NIS 3.1030 - Bank of Israel intervened in trading

The strengthening trend of the shekel continues: even on Monday. The major foreign currencies have lost their value against the shekel. The representative exchange rate of the dollar is NIS 3.1030 and the exchange rate of the euro is set at NIS 3.5894. After setting the exchange rates the representatives continued to lose height.

The dollar has fallen to its lowest level since 1996 - trading around 3.08, and the euro has fallen below 3.57. The currencies then returned to around NIS 3.113 and NIS 3.59, a percentage increase in the dollar exchange rate, after the Bank of Israel bought hundreds of millions of dollars in the foreign exchange market in the afternoon, the amount it has not purchased in a single day in recent weeks.
The central bank will continue to purchase as much dollars as necessary to protect Israeli exports. The central bank has significantly reduced its involvement in the foreign exchange market in the last two weeks and it seems that the trend is to intervene less in the market and allow it to set the price.
Although the Bank of Israel refrained from intervening in the foreign exchange market during the end of October, when the dollar exchange rate collapsed, the Bank of Israel purchased a considerable amount of $ 1.753 billion in the foreign exchange market last month. As of October 27. In total, Israel's foreign exchange reserves increased to an all-time high of $ 207,473 billion.