Israel’s Sheqel Falls on Dollar Purchase Speculations

The Israeli currency had the sharpest fall in 4 months today as the government is likely to increase a dollar purchasing program to stimulate the national currency.
The Government of Israel started a program last year when the global slump had its worst moment to increase national exports competitiveness, buying U.S. dollar as an attempt to weaken the national currency. Today, the Israeli sheqel was amongst the worse performing world currencies losing more than 2 percent versus the greenback after the national central bank indicated that it may purchase more than $100 million a day in order to help the nation’s exporters.
USD/ILS traded at 3.8800 as of 21:19 GMT from an opening rate today of 3.7913.

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