The shekel depreciated the most among a basket of global peers, after the Bank of Israel intervened to beat back the currency’s best three-day rally since March. Israel’s currency weakened 0.8 percent, more than 30 other major currencies tracked by Bloomberg, to 3.7754 per dollar at 5:30 p.m. in Tel Aviv.
The Bank of Israel bought about $200 million after the shekel appreciated 2.1 percent in the three days through Wednesday. “It’s the Bank of Israel against the market,” Yariv Shalev, a currency dealer at Mercantile Discount Bank in Tel Aviv, said by phone...............................................Full Article: Source
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