The Bank of Israel will need to be aggressive to contain the shekel's rise ...
FILE PHOTO: An Isreal Shekel note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration
Economists expect dollar-shekel to hold between 3.4 and 3.5 per dollar in 2020, as long as the central bank remains aggressive. It stood at 3.465 per dollar on Tuesday, unchanged from two weeks ago and mainly helped by the bank buying $1.3 billion of foreign currency the last week of November and unknown amounts this month.
“Are they going to change the long-term fundamental trend of the shekel? No. But are they going to be able to put speculators out of the market? Maybe. That’s pretty much they way they look at it,” said Neil Corney, country manager of Citi Israel.
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