$6.8 Billion in Foreign Currency Purchase from the Central Bank of Israel

The Central Bank of Israel broke a record by purchasing foreign currency worth $ 6.8 billion.

A $6.8 billion in foreign currency purchase from the Central Bank of Israel. With this record monthly purchase, the bank's foreign exchange reserves increased to a new peak of $ 179.5 billion at the end of January. After the purchases, the currency fell 0.1 percent against the US dollar today and traded at the level of 3.2920. The bank had announced that it wanted to purchase foreign currency worth $ 30 billion in 2021. Making a statement yesterday, Israeli Central Bank Governor Amir Yaron stated that the $ 30 billion program could be stretched further if the economy and market conditions require it. The Central Bank's foreign exchange reserves had increased by about 40 percent in 2020. Shekel, one of the currencies that had a successful performance over the past few years, had a decline of over 2 percent against the US dollar in January. Technology investments support the optimistic air currency for the vaccine developed within the scope of the current account balance of the country and the fight against the coronavirus epidemic.