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Bank of Israel Buys Dollars
Reported: 22:33 PM - Mar/13/08
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(IsraelNN.com) The Bank of Israel purchased dollars on Thursday as the shekel reached 3.35, its strongest trading level against the dollar in over a decade. Manufacturers and exporters have pressured Bank of Israel head Professor Stanley Fischer to do what he can to keep the exchange rate from falling further.
Bank of Israel officials would not say how many dollars they had purchased, and Finance Ministry representatives did not comment on the move. Fischer and other bank officials had stated earlier that they did not plan to intervene in the decrease in the dollar’s value.
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