The rate has fallen 2.3% since January 1. Against the euro, the shekel has weakened in today's foreign exchange trading.
The shekel-dollar exchange rate has continued to fall this week, reaching a new low of many years. The shekel-dollar exchange rate has fallen 2.3% since January 1.
The shekel-dollar exchange rate has fallen 0.53% so far today to NIS 3.754/$, while the shekel-euro exchange rate has risen 0.26% to NIS 5.5923/€. The shekel-euro exchange rate has reversed direction from yesterday's slide in options trading.
The dollar's weakness against leading currencies is also continuing, in view of weak US macroeconomic figures, including an increase in the deficit. Microeconomic figures, including massive write-offs by leading financial institutions on Friday, are also poor. Finally, the consensus is broadening that the US will enter a recession. The upshot is that investors are selling their dollar holdings.
Friday's shekel-dollar representative exchange rate was set at NIS 3.775/$ and the shekel-euro representative exchange rate was set at NIS 5.5776/€.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2008
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