OCCUPIED Al-QUDS November 07. 2023 (Saba) - The Bank of Israel said Tuesday that it sold $8.2 billion of foreign currency in October for the first time, which led to a decline in reserves to $191.2 billion.
Zionist media reported that the bank launched a program worth $30 billion to sell foreign currency, with the beginning of the war on Gaza a month ago, to prevent a sharp deterioration in the shekel exchange rate.
This is the first time ever that foreign exchange has been sold.
In September, reserves were at $198.5 billion. The Bank had reduced growth expectations for the economy of the Zionist entity to 2.3% during the current year, compared to 3% in previous expectations.
Zionist Bank expected, in a statement, that the gross domestic product would grow by 2.8% during the year 2024.
The Bank of Israel kept interest rates unchanged at 4.75 percent, while escalation operations continued in Gaza, amid a decline in shekel prices near its lowest levels.
The bank stated in its statement that the Monetary Policy Committee decided to keep the interest rate unchanged, despite the Zionist enemy’s involvement in the operations resulting from the escalation in Gaza for more than two weeks.
Najat
resource : Saba
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