As Israel widens Gaza ground offensive against Hamas, market expects fighting will be limited to the south; last week shekel hit weakest level in 11 years
Israel's central bank said Monday that it is prepared to sell as much as $30 billion of its foreign currency reserves to shore up the shekel which has plummeted in value since the outbreak of war with Hamas.
Central bank says will operate in market in order to 'moderate volatility' in shekel exchange rate, will also provide dollar liquidity through SWAP mechanisms of up to $15 billion