The representative rate of exchange of the currency basket rose 0.08% to NIS 3.6617, 6,995% below the mid-rate.
Heavy supply was recorded today (Tuesday) in foreign currency trading, as the currency trading week began. The banks estimate that the Bank of Israel had perforce to purchase $250 million to absorb the supply and protect the exchange rate mechanism. The Bank of Israel’s injections in the form of foreign currency purchases today amounted to NIS 850 million.
Following the central bank’s intervention, the representative rate of exchange of the currency basket rose 0.08% to NIS 3.6617, 6.995% below the mid-rate. The dollar exchange rate fell 0.19% to NIS 3.357. The resumption of trading followed a five-day bank holiday due to the Easter holiday, in which there was no foreign currency trading and representative rates of exchange were not fixed.