The shekel has plummeted against both the dollar and the euro.
Sources in the trading room of the banks inform "Globes" that the Bank of Israel has purchased at least $400 million today.
A senior trader with one of the large banks told "Globes" that, "Every hour the Bank of Israel calls here directly and asks to buy more and more dollars in amounts of tens of millions of dollars each time. It's crazy."
The shekel, which began to weaken immediately after Bank of Israel Governor Stanley Fischer's announcement yesterday that it was increasing dollar purchases resulted in the shekel plummeting 3.29% against the dollar today to NIS 3.866/$ and 3.86% against the euro to NIS 5.562/€.
Published by Globes [online], Israel business news - www.globes-online.com - on August 4, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
Adi Ben Israel and Sharon Baider