The Central Bank of Israel buys $ 4.405 billion in foreign cash in December

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JERUSALEM (Reuters) – The Central Bank of Israel said on Thursday it bought $ 4.405 billion in foreign cash in December, as it continues to fight the appreciation of the shekel, which has reached a 24-year high against the dollar.

The central bank’s purchases helped increase its foreign exchange reserves of $ 6.4 billion to a record high of $ 173.307 billion.

The dollar fell to about 3.17 shekels earlier on Thursday, the lowest level since late 1996, but it rose and stabilized at 3.18 by 1145 GMT. The shekel has already gained 1.2 percent against the dollar since the start of the year, and has risen nearly 9 percent since the start of 2020.

(Doaa Muhammad prepared for the Arabic newsletter – Edited by Mahmoud Salama)

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