The Bank of Israel's dollar purchases are problematic, but inevitable. Central bank intervention, such as government intervention in the market and especially when its purpose is to influence the free market - problematic. In China, the central bank is accustomed to this, and so is the government.

The US and other countries around the world are complaining about this intervention, which artificially holds the Chinese yuan at a low rate, which serves the government's targets to be attractive for export.

One of the problems is that the activity of a major player in the foreign exchange market, such as the Bank of Israel, can be exploited to profit from speculation on its activities.

For example, if you manage to glean information about the date of purchase of the Bank of Israel, you can sell at the same time and profit from it. Governor Malin did, but he didn't seem to have anything to do with it.

The Bank's purchases are inevitable because the "natural" purchases in the market have decreased due to a decrease in energy purchases, thanks to the new natural gas reservoirs in Israel.