January 11, 2018 / 9:58 AM / a year ago

Shekel strength buoyed by accommodative policies globally -cbank chief

JERUSALEM, Jan 11 (Reuters) - Israel’s shekel remains strong largely because of lingering accommodative policies around the world, as well as a strong domestic economy, Bank of Israel Governor Karnit Flug said on Thursday.

The shekel appreciated 11 percent against the dollar in 2017 to stand at a 3 1/2 year high, while it gained five percent versus a basket of currencies of Israel’s main trading partners.

“The shekel is strong, among other things, because of the expansionary monetary policies taken by some countries,” Flug told the annual Israel Business Conference.

Flug also said the central bank was studying issuing digital currency but that the matter raises a number of questions. (Reporting by Steven Scheer; Editing by Ari Rabinovitch)

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