Bank Hapoalim sees highest Israeli economic losses since 1973 October war

Israel’s largest lender, Bank Hapoalim reported on Wednesday substantial losses worth $6.8 billion since the beginning of Palestine’s Hamas attack, the biggest losses since the 1973 October war.

In the same context, officials of the Israeli finance ministry stated that the economic losses due to the fights with the Palestinian resistance factions are much bigger than total losses caused by the 2006 Lebanon war.

The central bank of Israel has decided earlier to sell 15 percent of US dollar reserves($30 billion) as a bid to save the sliding shekel exchange rate, Reuters reported.