Israeli shekel settles in on CLS
JERUSALEM - The Israeli shekel experienced average daily trading volumes of $4.8 billion during its first year of settlement on CLS, the Bank of Israel (BoI) has revealed.
The shekel was placed on the industry utility at the same time as the Mexican peso, in May last year. Two Israeli banks, Bank Hapoalim and Bank Leumi, also became members of CLS at the same juncture (FX Week, May 26, 2008). The BoI said that, since launch, 38 of the 59 CLS member banks have become active in shekel settlement
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