The shekel-euro and shekel-dollar rates represented in options trading continue to rise.
Following a big move up in the euro-dollar exchange rate on Friday, shekel exchange rates continue to rise against both the euro and dollar. While there is no inter-bank trading on Sundays, the shekel-dollar and shekel-euro exchange rates are rising in options trading. The shekel-dollar rate is up 0.03% to NIS 3.615/$, and the euro-shekel rate is up 0.32% to NIS 5.6889/€.
On Friday, the representative shekel-dollar exchange rate rose a bit over 1% to NIS 3.614/$, and the representative euro-dollar exchange rate jumped 2.12% to NIS 5.6705/€.
It appears that several of the factors that pushed the shekel stronger against major currencies are ebbing. The Bank of Israel last week reduced its growth forecast for Israel's economy in 2008 to 3.2%.
Published by Globes [online], Israel business news - www.globes-online.com - on April 6, 2008
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