March 16, 2020 / 11:20 AM / 25 days ago

Bank of Israel adding hundreds of millions of dollars of liquidity -official

JERUSALEM, March 16 (Reuters) - The Bank of Israel added hundreds of million dollars of liquidity to the foreign exchange market on Monday while continuing to buy government bonds to help markets function and keep credit costs down, deputy governor Andrew Abir said.

Abir told Reuters the central bank bought 400 million shekels ($107 million) of government bonds on Sunday and “considerably more” on Monday.

“We don’t expect to be in the (bond) market every day,” he said. “If there are specific days when there is some form of stress in the market then we will be there to help the market out.”

He said he could not give an exact figure on the amount of dollar liquidity added through dollar-shekel swaps since the transaction was not over. ($1 = 3.7269 shekels) (Reporting by Steven Scheer; Editing by Tova Cohen)

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