LONDON, June 12 (Reuters) - Israel's shekel rate is close to equilibrium after several weeks of dollar-buying intervention, the country's central bank governor said on Tuesday.
'We have estimates of the equilibrium rate and we are in that neighbourhood,' Stanley Fischer told a news briefing.
The central bank stepped into the market when the shekel rose to 3.55 per dollar and has succeeded in bringing it down to around 3.62.
'We just have to watch it and see what happens,' Fischer said.
(Reporting by Carolyn Cohn and Christina Fincher) Keywords: ISRAEL ECONOMY
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.