• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Israel’s reserves fall by $7.3bn in defense of shekel

2 years ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Israel’s reserves fall by $7.3bn in defense of shekel

Israel’s foreign reserves fell by more than $7 billion in October as the central bank sought to defend the shekel following the start of the country’s war with Hamas.

Reserves dropped by $7.3 billion, or 3.7%, to $191.2 billion, according to the central bank. They are now at their lowest level in a year, though still way up on the average of the last decade.

The Bank of Israel announced a $45 billion support package soon after the conflict erupted on Oct. 7. The central bank pledged to sell as much as $30 billion from its foreign-currency reserves and to provide as much as $15 billion via swaps.

The shekel still slumped last month to weakest level since 2012 and the cost of hedging against further losses soared. Israeli stocks and bonds also fell heavily as traders feared the war would escalate to become a regional conflict.

In the past 10 days, Israeli assets, including the shekel, have gained amid a global relief rally and some signs the fighting will largely be contained to Gaza.

The shekel has now recouped almost all its losses since Oct. 7. It’s rose 0.9% to 3.85 per dollar as of 1:55 p.m. in Tel Aviv, extending its rise since late October to 6%.

RelatedPosts

EIA Rattles Oil Markets With Reports of Crude Oil, Product Builds

Dams for Development? Unpacking Tensions in the World Bank’s Hydropower Policies

Chart of the Week: Dollar’s Share of Reserves Held Steady in Second Quarter When Adjusted for FX Moves

The central bank said the fall in reserves was mainly down to foreign-currency sales of $8.2 billion.

Source: bloomberg
Via: norvanreports
No Result
View All Result

Highlights

Sinner Dominates Tien to Secure China Open Title

President Mahama Vows Tougher Action on Cybercrime, Promises Collaboration with Global Partners

Government to Establish Cyber Security Fund to Bolster Digital Defences

Headline Inflation Hits Single-Digit With 9.4% Rate in September 2025

Bank of Ghana Prices 1oz Gold Coin at GHS 49,131.99

Ghana Hosts IGAD Delegation on Land Governance Exchange

Trending

Business

EIA Rattles Oil Markets With Reports of Crude Oil, Product Builds

October 1, 2025

EIA Rattles Oil Markets With Reports of Crude Oil, Product Builds Crude oil inventories in the United...

Dams for Development? Unpacking Tensions in the World Bank’s Hydropower Policies

October 1, 2025

Chart of the Week: Dollar’s Share of Reserves Held Steady in Second Quarter When Adjusted for FX Moves

October 1, 2025

Sinner Dominates Tien to Secure China Open Title

October 1, 2025

President Mahama Vows Tougher Action on Cybercrime, Promises Collaboration with Global Partners

October 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.