The Israeli Treasury announced today a reduction of interest paid on deposits held by foreign residents from five to four-and-a-half percent. The rate, originally six percent, has been gradually cut to the international level after the Treasury achieved its goal of encouraging foreign currency holdings in local banks. The reduction will apply to new deposits and to time deposits when they are renewed.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
