JERUSALEM (Reuters) – The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market to maintain stability after the country said it was at war with the Palestinian militant group Hamas.
“The bank will operate in the market during the coming period in order to moderate volatility in the shekel exchange rate and to provide the necessary liquidity for the continued proper functioning of the markets,” it said in a statement.
The central bank also said it would provide liquidity through SWAP mechanisms in the market of up to $15 billion.
(Reporting by Steven Scheer, Ari Rabinovitch and Emily Rose; Editing by Jacqueline Wong)
