There will be no devaluation of the Israeli currency and there will also be no freezing of bank accounts in Israel, Benjamin Mintz, Deputy Speaker of the Israel Parliament, declared at a press conference here today upon his arrival from Jerusalem.
Mr. Mintz said that new currency will be issued soon in Israel but this will not affect the value of the Israeli pound. “Israelis will receive pound for pound, when the new currency is issued, ” he stated.
(The New York Times today reported from Jerusalem that Finance Minister Eliezer Kaplan was understood to have told the Israeli Cabinet that the Treasury could not be committed to meet the monthly quota of $6,500,000 in foreign currency needed to maintain present food rations. He did not recommend cutting the quota, which would mean reducing rations, but he saw no guarantee that the funds would be available in time, the report said, adding that this may mean another food crisis, such as that of four months ago, when the Government was unable to meet the promised food ration.)
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
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.
