The Central Bank of Israel said on Thursday that it plans to buy $ 30 billion in foreign exchange this year as part of efforts to curb the rise of the local currency, the shekel.
Earlier, the shekel reached 3.11 to the dollar, its strongest level since early 1996.
The Central Bank of Israel had kept the benchmark interest rate unchanged at 0.1 percent for the third time in a row, indicating what it called more optimistic economic prospects if the outbreak of the Corona virus could be controlled.
Despite the weak economy and high unemployment, central bank officials are reluctant to cut the key interest rate from an all-time low to zero or negative territory, preferring instead to use measures such as buying currency, government bonds and corporate bonds.
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