Israel completes shekel liberalisation

- By FX Markets Staff
- @FXMarkets_
- 06 Jan 2003

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The final restriction to be lifted was that of limiting Israeli financial institutions’ overseas investments abroad to 20% of their total assets. To mark the occasion, the Foreign Exchange Control Department has been renamed the Foreign Exchange Activity Department.

The process of liberalisation of Israeli currency trading has been taking place for over 10 years, and the currency’s value has been determined by market forces since 1997. This, said the central bank’s spokesperson’s office,

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