The shekel-dollar exchange rate is lower, falling 0.2% to NIS 4.2/$, while the shekel-euro exchange rate is rising 0.2% to NIS 5.3085/€.
Foreign currency trading, reflecting a weaker dollar, is in line with global trends, after yesterday's steep drops on Wall Street, with the Dow Jones Industrials Average closing below 7,000 for the first time since 1997.
Yesterday, the Bank of Israel set the representative shekel-dollar exchange rate 1.13% higher at NIS 4.209/$, and the shekel-euro rate 0.407% higher at NIS 5.2987/€.
Easy-Forex said yesterday's report of a jump in unemployment benefit claims pushed investors to buy dollars. Finotec said that as investors grow increasingly worried, they look to the safe harbor of the dollar.
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2009
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