Bank of Israel head hints more spending may come after initial announcement of massive foreign currency purchase fails to curb shekel; bank is 'fighting gravity,' says top analyst

In policy shift, central bank announces the scope of forex purchases, to provide market with certainty about its commitment to keep shekel appreciation in check

The shekel-dollar rate went below psychological threshold of NIS 3.40 to the dollar on September 1, the Israeli currency's strongest level since July 2008

Globes: Bank of Israel said to have purchased unknown amount of foreign currency Tuesday morning when shekel-dollar exchange rate fell below NIS 3.50/$