Jerusalem Post | Thursday, July 10, 2008
The Bank of Israel will increase the rate of purchasing US currency to $100 million per day beginning Thursday, the bank announced.
The US dollar was being traded at NIS 3.22 on Thursday afternoon, a rise of one agora over the morning hours’ NIS 3.21 exchange rate.
The bank noted that the plan to increase the US currency purchases was part of a plan to increase foreign currency reserves to $35-40 billion.
In March, the Bank of Israel purchased US dollars for the first time in 10 years, with an intention to stop the shekel from growing much stronger against the US currency.
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