Israeli saving institutions purchased 3.5bn USD in January

ISRAEL - In Brief 14 Mar 2022 by Jonathan Katz
Israeli institutions purchased 3.5bn USD net in January, following purchases of 1.6bn in December. In January, institutions purchased assets abroad of 1.0bn USD and purchased FX via derivatives by an additional 2.5bn. Global equity markets declined sharply in January, forcing Israeli institutions to purchase FX in order not to reduce sharply their FX exposure. The FX exposure share out of total assets reached 16.9% in January, down slightly from 17.3% in December. Declining financial markets “force” institutions to purchase FX, thereby pushing the shekel weaker.

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