Subscribe to Print Edition | Wed., August 06, 2008 Av 5, 5768 | | Israel Time: 02:13 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File

BoI to halt dollar purchases ahead of schedule By Moti Bassok Tags: bank of israel When the Bank of Israel finishes beefing up Israel's foreign currency reserves by $10 billion, it will drop intervening in the forex market, a top central bank official said yesterday. Zvi Eckstein, deputy governor of the Bank of Israel, said that the Bank of Israel's actions - first buying $25 million on each business day, then $100 million - had significantly slowed the appreciation of the shekel. Its moves could be considered successful, Eckstein said. The central bank stepped up its pace after realizing that its plan hadn't moved the market, and the shekel was continuing to appreciate against the dollar, to the vocal dismay of exporters. Advertisement On March 20, Governor Stanley Fischer announced a plan to increase Israel's foreign currency reserves by $10 billion, and surmised that it would take about two years. At this pace it will only take two months for the Bank of Israel to buy that amount. Bookmark to del.icio.us   New bestsellers Three children's books about the US presidential race to be published soon. False accusation Pentagon admits it wrongly accused Jewish army engineer of spying for Israel.

Read & React Israeli food company: We won't sell produce grown by Arabs Responses: 173 Barak: If you miss Gaza raids, don't worry - they'll come Responses: 69 Settler group planning to reestablish Gaza bloc Responses: 79 Israelis in West Africa: We live in Hezbollah state Responses: 85 Pentagon: We thought engineer was Israeli spy because he's a Jew Responses: 100 More Headlines 22:20 UNIFIL: We vow to try to rescue any soldier captured in Lebanon 00:39 IDF trains for simultaneous Hezbollah, Iran, Syria missile strikes 02:11 PA: Mofaz as head of Kadima would be disaster for peace 00:45 Mofaz: I will keep Jerusalem united as Israel's eternal capital 22:34 Hamas warns of uprising against Fatah in West Bank 22:33 Pentagon: We thought engineer was Israeli spy because he's a Jew 20:14 NBA's only Jew visits Israel to instruct Jewish, Arab children 22:29 America's new children's bestsellers: Obama and McCain 22:38 Study: Israeli Arab attitudes toward women undergoing change 22:21 U.S.: Iran response on nuclear freeze is unacceptable 17:25 Israeli policeman arrested over death of Palestinian boy at Na'alin protest 17:42 Following Russian pressure, Israel freezes defense sales to Georgia 16:11 Palestinian refugees in Iraq to be relocated to Scandinavia 02:12 Liverpool keeping Israeli striker Benayoun despite Roma bid Previous Editions Select Day 05 aug 04 aug 03 aug 01 aug 31 jul 30 jul 29 jul 28 jul 27 jul 25 jul 24 jul 23 jul

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