A quarter-century record is in sight for the shekel despite massive foreign-currency purchases and an April interest-rate cut Economists surveyed by Bloomberg unanimously expect the central bank to leave its benchmark interest rate at 0.1% on Monday.
“I don’t think they can do very much,” said Barry Topf, a former director of market operations at the Bank of Israel who helped to design its intervention program. “I think they know that, too, and just don’t want to say it.”
The currency gained nearly 7.5% against the greenback last year. It was trading up 0.2% at 3.2085 to the dollar at 10:07 a.m. on Monday in Tel Aviv.
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