“Israel’s central bank sells $30 billion in foreign reserves after shekel slides to seven-year low”
October 9, 2023
“The Bank of Israel on Monday announced it will sell up to $30 billion in foreign reserves in a bid to support its domestic currency which has fallen sharply following the deadly incursion by Hamas militants over the weekend.
The Israeli shekel last weakened 1.63% to trade at 3.90 against the greenback, marking its weakest in seven years… On top of the $30 billion program, the bank added it will provide liquidity to the market through SWAP mechanisms in the market of up to $15 billion…”
Bankers you didnt know? War is bad for business. Are you just figuring out you can’t have both?