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Israel Govt. Discusses Dollar-based Saving Bond Issue; Will Establish National Bank

A draft bill providing for a 25,000,000 pound about $70,000,000–savings bond issue with a dollar-based stable value, was discussed by the Israel Cabinet, according to an official communique today on its weekly meeting. The Cabinet also approved the draft of a bill for establishment of a Postal Savings Bank and set up a committee for the foundation of an Israel National Bank.

A Treasury report issued today revealed that currency in circulation has again risen by 2,000,000 pounds, reaching 79,883,000 pounds this week as against 77,933,000 pounds last week.