David Horowitz, governor of the Bank of Israel, told the Knesset (Parliament) Finance Committee yesterday that monetary difficulties in Western Europe, particularly the crisis of the French franc, have no “implications” for Israel’s economy. Mr. Horowitz’ statement confirmed opinions expressed in financial circles here last week when the devaluation of the franc and possibly of other European currencies appeared imminent.
Emergency measures taken last week to protect the Israel pound were rescinded yesterday. The Bank of Israel removed the $40 per day ceiling it had placed on currency transactions by tourists with francs or pounds sterling. Dollar exchanges were never affected and a slight drop was noted yesterday in the black market prices of dollars and gold.
Reporting the stories that define our era. When history unfolds in real-time, the Jewish world turns to JTA. Your support ensures we can document the complexities of war and the resilience of Jewish communities with integrity.
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.
