The shekel-dollar exchange rate dipped below the NIS 3.7/$ mark this morning, falling 0.29% to NIS 3.6972/$. The shekel-euro exchange rate is up 0.05% to NIS 5.5368/€.
Yesterday, too, the shekel-dollar rate dropped below NIS 3.7/$, and apparently that is when the Bank of Israel began buying dollars, which raised the rate as high as NIS 3.715/$. Governor of the Bank of Israel Prof. Stanley Fischer apparently intervened twice in the foreign currency market yesterday. The first time was to buy an estimated $200 million, and a second move was for an estimated $100-150 million.
Despite those moves, the Bank of Israel set the shekel-dollar representative exchange rate yesterday at NIS 3.708/$, 0.027% lower than the day before, and set the shekel-euro representative exchange rate at NIS 5.5342/€, 0.02% lower than the day before.
Published by Globes [online], Israel business news - www.globes-online.com - on October 20, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009