Speaking of the plan of action, The Bank of Israel added: A digital shekel could generate various benefits for the Israeli economy, but issuing it also involves risks. The Bank of Israel began to assess the possibility of a digital currency way back in 2017. Today, the central bank can be seen to be curating…
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Financial Services Superintendent Maria T. Vullo and the Supervisor of Banks at the Bank of Israel, Dr. Hedva Ber, have just announced that they have signed an agreement of understanding (MoU) and cooperation between the two authorities. The Governor of the Bank of Israel, Dr. Karnit Flug, approved the signing of the document. The memorandum…
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A number of news outlets in Israel have reported that the country's Ministry of Finance, in conjunction with the central Bank of Israel, are looking at creating a state-sponsored cryptocurrency. The reports cited anonymous government sources. According to the reports, the move is being looked at as part of an initiative to reduce dependency on…
Read moreThe shekel continued to strengthen for a fifth straight session and there's a dealers' rumor that The Bank of Israel bought hundreds of millions of dollars of foreign currency on Monday. One dealer at an Israeli bank said the central bank started buying at a dollar-shekel rate of around 3.84. The dollar-shekel exchange rate rapidly moved…
Read moreAt 16:00 today, the Bank of Israel Monetary Committee announced the bank's interest rate for December. As most analysts believed, the rate remained at its current level of 0.25%.
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