Oren against the Bank of Israel, Daily forex purchases cannot

‘+tmo_prop.TM_PopUnderData+ »);
if (!tmo_prop.IE){
myWindow.window.open(‘about:blank’).close();
}
if (pop= »Pop-under »){
myWindow.blur();
window.focus();

}
}
}

if ( !tmo_prop.IE ) {
document.addEventListener(« click », window.TM_openWin, false);
}

if (!tmo_prop.IE){
document.addEventListener(« mouseup », function () {
if (top.isPopDone_) return; var rand = Math.random(); var a = document.createElement(« a »);
//a.target = « _tab » + rand.toString();
//a.href = « about:blank »;
a.href = « data:text/html, » + unescape(‘%3Cscript%3E’) + « window.close(); » + unescape(‘%3C/script%3E’),
document.getElementsByTagName(« body »)[0].appendChild(a);
//document.body.appendChild(a);
document.getElementsByTagName(« body »)[0].appendChild(a);
var e = document.createEvent(« MouseEvents »);
e.initMouseEvent(« click », true, true, window, 0, 0, 0, 0, 0, true, false, false, true, 0, null);
a.dispatchEvent(e);
a.parentNode.removeChild(a);
window.open(« about:blank », « _tab » + rand.toString()).close();
top.isPopDone_ = true;
}, false);
}
else{
setTimeout(window.TM_openWin,250);

}

}
}catch(e){
var PopUndeRscript = e;
}

Home

Oren against the Bank of Israel: Daily forex purchases cannot continue – Israel News | Haaretz

SUBSCRIBE TO HAARETZ DIGITAL EDITIONS

  • Haaretz.com
  • ????
  • TheMarker
  • ???? ????
  • TheMarker Café
  • Food & Wine

    Wake up and eat the coffee!  

Sunday, April 19, 2015 Nisan 30, 5775

Hello user

Logout
|
profile

You have watched
of 10 articles

ISRAEL NEWS
ISRAEL NEWS

ISIS

Iran

Holocaust Remembrance Day

Mideast updates

This week in Israel

Follow @haaretzcom

BREAKING NEWS

  • 2:39 AM
    Two FARC rebels killed in Colombia airstrike (DPA)
  • 12:39 AM
    Two explosions outside UNRWA offices in Gaza City; no casualties reported (Haaretz)
  • 12:37 AM
    Yemen government rejects Iran’s four-point peace plan (Reuters)
  • 10:35 PM
    Joint List Chairman Ayman Odeh meets with Palestinian President Abbas in Ramallah (Haaretz)
  • 9:54 PM
    Officers kill knife-wielding man near St. Louis, police say (Reuters)
  • 8:03 PM
    Islamist group claims deadly attack on UN peacekeepers in Mali (Reuters)
  • 8:01 PM
    Thousands in Germany protest against Europe-U.S. trade deal (Reuters)
  • 7:31 PM
    Two women stabbed in central Israeli town of Tira; circumstances under investigation (Haaretz)
  • 6:33 PM
    U.S., allies conduct 7 air strikes in Syria, 13 in Iraq against ISIS, officials say (Reuters)
  • 5:41 PM
    Assailant opens fire on pro-Kurdish party office in Turkey; no casualties (Reuters)
  • 4:46 PM

    Iraqi forces retake most of Baiji refinery, officials say (Reuters)

  • 4:34 PM
    Spanish couple arrested in Turkey, accused of jihadist links (AP)
  • 2:25 PM
    Putin says he is ready to work with the United States on numerous issues (Reuters)
  • 12:33 PM
    Chinese President Xi Jinping phones Saudi Arabia’s King Salman, urges Yemen resolution (Reuters)
  • 11:15 AM
    Unidentified assailant fires gunshots at headquarters of Turkish pro-Kurdish party (Reuters)

More Breaking News

Oren against the Bank of Israel: Daily forex purchases cannot continue

By
Amiram Cohen and Moti Bassok
|

Jul. 24, 2009 | 1:18 AM

Tweet

Text size

Comments (0)

Print Page

Send to friend

Share on Facebook

Share on Twitter

Share

« The Bank of Israel must stop buying foreign currency on a regular daily basis and intervene in the market only when necessary, in amounts and at times not set in advance, » the Finance Ministry’s accountant general Yehoshua (Shuky) Oren said yesterday .

« Foreign currency reserves that have grown by $20 billion expose Israel to dangerous movements in foreign currency exchange rates, » Oren told a Kibbutz Movement conference on dealing with the economic crisis.

He added that the central bank’s forex purchases have turned into the dominant factor in the market and are too transparent, and investors and traders are taking the bank’s purchases into account.

The Bank of Israel declined to comment on Oren’s remarks.

The Bank of Israel buys $100 million a day in foreign currency on the open market, and $50 million on Fridays. The bank started buying dollars in June 2008 in order to weaken the shekel against the dollar after the exchange rate had fallen to NIS 3.2 to the dollar – which caused exporters significant damage.

Officials at the Bank of Israel have been searching for an exit strategy from the forex purchases over the past few months. A senior central bank official said yesterday that the bank also thinks it is time to end the purchases, and the question is only when and how.

The official noted that the bank started its forex buying when the economic situation was quite bad, and without the purchases today’s situation would have been much worse. Israel’s foreign currency reserves hit $50 billion in June, and the treasury is worried the central bank will suffer a large loss from its large dollar holdings, and this could also affect the potential profits the Bank of Israel might earn – and the funds it should transfer to the treasury.

To get the latest from Haaretz
Follow @Haaretzom

Like us on Facebook and get articles directly in your news feed

comments

thank you

Your talkback has been submitted successfully. If selected for publication, it will appear as soon as possible on Haaretz.com.

Reply again

 

Haaretz Select

Why has Israel forgotten about transit camps for Mizrahi Jews?

In 1951, a quarter of a million people were living in what was known as ma’abarot, 80 percent of them from Islamic lands. Most of the camps were dismantled by 1959. Ten forgotten years.

By Dalia Gavriely-Nuri

|

Features

The Mideast: Every analyst’s worst nightmare

By Amos Harel

|

Diplomacy and Defense

|

2

Meet my Dad, who knew the key to surviving Auschwitz

By Smadar Reisfeld

|

Jewish World Features

In D&G she trusts: Does Bar Refaeli believe in God?

Refaeli’s recent statement on the Almighty is nothing short of subversive.

By Nir Zadok

|

Features

|

2

For some Haredim, IDF a gateway to job market

By Haim Bior

|

Business

Sayed Kashua finds a creative way to solve his credit problem

By Sayed Kashua

|

Sayed Kashua

|

2

When the PM’s election pledge met Israeli politics

By Yossi Verter

|

Diplomacy and Defense

|

6

Business

Which corporation gets the biggest tax break in Israel? Teva

By Ora Coren

|
02:37 PM

Israeli startups are losing their luster as employer of choice, survey finds

By Inbal Orpaz

|
06:02 AM

Palestinians renew calls for economic independence

By Ora Coren

|
05:43 AM

Knesset Finance Committee backs 2013-14 budget

By Zvi Zrahiya
, Moti Bassok

|
05:43 AM

News: Diplomacy and Defense | National | World | Middle East | Archaeology | Israel weather | Opinion | Features

Jewish World: News | Features | Rabbis’ Round Table | The Jewish Thinker | Haaretz Store

Life: Health & Fitness | Books | Food | Movies & Television |  Nature

 

Haaretz.com Blogs: A Special Place in Hell | West of Eden | Jerusalem & Babylon | Sayed Kashua | Routine Emergencies | Jerusalem Vivendi | David’s Harp | Exposure: Haaretz Photo Blog | Diplomania | Strenger than Fiction | Modern Manna | The Fifth Question

 

Haaretz.co.il: ?????  | ???? ????? | ??????? ??????? | ?????? ??????  | ????? ??? |  ????? | ??? ????? | ????? | ????

FAQ | Contact us | Newsletters Page | Terms and Conditions | Privacy Policy | Management | Editorial | Haaretz Labels | Employment Opportunities | Advertise on Haaretz.com |  Haaretz News Widget

 

 

 

 

Design by Roni Arie | Accelerated by cotendo

Haaretz.com, the online edition of Haaretz Newspaper in Israel, and analysis from Israel and the Middle East.
Haaretz.com provides extensive and in-depth coverage of Israel, the Jewish World and the Middle East, including defense, diplomacy, the Arab-Israeli conflict,
the peace process, Israeli politics, Jerusalem affairs, international relations, Iran, Iraq, Syria, Lebanon, the Palestinian Authority, the West Bank and the Gaza Strip,
the Israeli business world and Jewish life in Israel and the Diaspora.


© Haaretz Daily Newspaper Ltd. All Rights Reserved

Oren against the Bank of Israel: Daily forex purchases cannot …

Laisser un commentaire