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Al Jazeera
Al Jazeera
Politics

Bank of Israel to sell $30bn of forex after shekel falls

Bank of Israel Israel Hamas the Bank of Israel
The last time the bank intervened in the market was in January 2022 [File: Nir Elias/Illustration]

The Bank of Israel says it will sell up to $30bn of foreign currency in the open market to maintain stability of the shekel during Israel’s war with Hamas in the Gaza Strip.

Monday’s announcement, the central bank’s first ever sale of foreign exchange, appeared to quickly restore calm in the market as the shekel recovered from steep early losses on Monday.

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