Bank of Israel buys US dollars to increase reserves to $44 billion. The rest of the world is desperate to dump the dollar. It’s counter-intuitive to stockpile the currency of the country most affected in a major economic crisis. The money will sit idly in the reserves precisely when the Israeli economy is desperate for credit resources.
Bank of Israel is under great pressure from exporters, who need a weak shekel even though it harms consumers.
It’s a pity that bank of Israel dollars from which will depress Israeli economy, still buys them. The government does not see to be thinking about the citizens at all as they support bank of Israel dollars from which will make Israeli economy suffer more from the consequences of the economic crisis.
US Egypt nuclear agreement
The whole world is tired of Yankies’ being updogs. But in some cases they demonstrate some mental abilities however.For instance, they managed to get benefit from Isreal bank dollars of which now support American economy.