Moody's downgraded Israel's credit rating to A2, with a negative outlook. Many analysts predicted that the shekel could suffer a decline in the coming days.
As of today, the shekels is trading at the same level as it was traded in the morning. The dollar exchange rate is unchanged, record demand in the issuance of government bonds - voila! money. Is this an expression of confidence in the Israeli currency or has the Bank of Israel intervened in foreign exchange trading?