Discount Investments not yet cashing in capital gains

"Discount Investments sold less than $50 million on the foreign exchange market today which is business as usual", Discount Investments CFO Ziv Leitman told TheMarker today.

Asked if the sale expresses Discount Investments' doubts the dollar could reach NIS 4.70, Leitman said "It doesn't express anything. It is normal activity unrelated to our capital gains from exercising our put options in UPC. We maintain a linked balance sheet such that out foreign currency liabilities are equivalent to our foreign currency assets."

One of Israel's major retail banks today purchased a large volume of dollars, which bumped the representative exchange rate up 0.46% to NIS 4.623.

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