Free Trial

BoI Sell Just Over 25% of $30bln Earmarked for Intervention

ISRAEL
  • First post-Hamas conflict FX reserves update from the Bank of Israel - shows total FX reserves dropping $7.3bln, with total FX sales over the same period totalling $8.2bln.
  • That $8.2bln figure will represent just over a quarter of the total reserves dedicated to supporting the ILS (the BoI announced $30bln in intervention following the breakout of the conflict).
  • As for why total reserves fell at a smaller pace relative to total intervention, the BoI clarify that revaluation of reserves decreased total FX reserves by approximately $15bln across the month.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.