2023-11-13T06:41:00+00:00
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/ Bloomberg agency said that the war waged by Israel against Hamas is costing the Israeli economy about 260 million dollars per day.
The agency added that the war has become more costly for Israel than initially expected, as it imposes pressure on public finances.
The Central Bank of Israel said on Tuesday that it sold $8.2 billion in foreign exchange in October, which led to a decline in reserves to $191.2 billion.
The Central Bank launched a $30 billion program to sell foreign exchange, with the beginning of the war on Hamas in Gaza a month ago, to prevent a sharp deterioration in the shekel exchange rate.
This is the first time ever that foreign exchange has been sold.
Since the fighting began on October 7, the price of the shekel has fallen significantly against the dollar.
The last time Israel recorded this contraction was in 2020, with the economy closed due to the outbreak of the Corona pandemic.