Dollar Nears 2.80 Shekels as Israel Holds Back Market Intervention
Updated
Updated · Haaretz · Jun 1
Dollar Nears 2.80 Shekels as Israel Holds Back Market Intervention
2 articles · Updated · Haaretz · Jun 1
Summary
The greenback has extended its slide against the shekel to near 2.80, a level that would have seemed implausible a year ago.
Bank of Israel officials are not moving to counter the drop, even as the stronger shekel squeezes Israeli exporters.
That restraint comes while politicians press the central bank on interest rates but stay largely silent on the currency market.
The report links the non-intervention to Israel's limited room to challenge a U.S. president it cannot afford to defy, underscoring the political constraints on economic policy.