Bank of Israel bought $801M in May to curb shekel strength

Key facts

• Bank of Israel intervened in FX market in May.
• The central bank purchased $801 million.
• The shekel reached its strongest level in over three decades.

The Bank of Israel intervened in the foreign exchange market during May, purchasing $801 million. This action was taken as the Israeli shekel reached its strongest level in more than 30 years. The intervention aimed to curb the shekel's appreciation against other currencies.