TEL AVIV, March 18 (Reuters) - The Bank of Israel said on Wednesday it will allocate up to $15 billion for swap transactions to further expand liquidity in the foreign exchange market.
The central bank will use its foreign currency reserves for the swap transactions, carried out vis-à-vis domestic banks, and for terms of even longer than a week.
“The Bank of Israel will continue to implement this instrument as long as dollar liquidity pressures continue to be very high,” it said.
The shekel has slid some 10% versus the dollar this month.
Reporting by Steven Scheer; Editing by Tova Cohen