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2021-01-22 16:53:40
Ulaanbaatar/MONTSAME/. The signing ceremony of the ‘Cooperation
Agreement’ was held today among the Bank of Mongolia, the Mongolian Bankers
Association and the Federal Republic of Germany’s ‘Sparkasse’ bank fund.
Within the framework of ensuring the financial stability of
Mongolia and developing the financial market, the Central Bank is implementing
a ‘National Program for financial literacy’ in cooperation with governmental
and non-governmental organizations.
Under this program, the cooperation
agreement has been signed and the parties will work together to:
- Establish a professional ‘New Institute’ in Mongolia with
the joint funding of the Federal Ministry for Economic Cooperation and
Analysts divided on whether BoI can curb the shekel
The Bank of Israel fears for exports and jobs, but are massive foreign currency purchases effective help?
Will the Bank of Israel s new and dramatic policy succeed in halting the appreciation of the shekel? The announcement by the central bank on Thursday that it would buy $30 billion in 2021 caught the market by surprise. The immediate reaction to the announcement was a reversal of the trend, as the shekel-dollar exchange rate shot up: from a low of NIS 3.13/$ on Wednesday to NIS 3.26/$ at the close of trading on Friday. The sharp rise is attributed to investors who rushed to close positions (through stop-loss orders). But the assessment for the coming week is that the rate will drop somewhat and the shekel will resume its appreciation.
Explaining the Bank of Israel's decision to buy $30 billion, Andrew Abir spoke of providing certainty and protecting jobs. Market sources: It's a game changer.