The shekel-euro exchange rate fell 0.28% to NIS 5.4254.
A day after breaking the psychological NIS 4/$ threshold, the shekel-dollar exchange rate is continuing its fall. The shekel-euro exchange rate is also falling. In inter-bank trading this morning, the shekel-dollar exchange rate fell 0.35% to NIS 3.984/$, and the shekel-euro exchange rate fell 0.28% to NIS 5.4254/€.
Yesterday’s shekel-dollar representative rate was set at NIS 3.998/$, after falling 1.1%, and the shekel-euro representative rate was set at NIS 5.44/€, after falling 0.78%.
Easy Forex says that foreign investors are continuing buying the shekel, flooding the market with dollars, forcing down the exchange rate as a result. The weakening of the dollar on international markets is making matters worse in the local foreign currency market.
Published by Globes [online], Israel business news - www.globes.co.il - on May 8, 2007
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