The shekel is steady against the dollar while gaining strength against the euro today. This afternoon, both the Bank of England and the European Central Bank (ECB) will announce interest rate decisions.
The representative shekel-pound exchange rate was set at NIS 6.0148/₤ yesterday, the first time it has been set over NIS 6/₤ since January 29th.
The shekel-dollar exchange rate is down 0.05% to NIS 3.7723/$, and the shekel-euro exchange rate is down 0.6% to NIS 4.9563/€.
The Bank of Israel has intervened several times in the foreign currency trading market recently, following its interest rate hike to 1.75%.
Since the beginning of July, the shekel has gained about 2.7% against the dollar. Based on the representative rate set at the end of June, one shekel was worth $0.258, and is currently is worth $0.265.
During the same period, the shekel has lost over 4.7% against the euro - at the end of June, one shekel was worth €0.21, and at yesterday's representative rate was worth about €0.20.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.774/$, 0.56% higher than the day before, and set the shekel-euro representative exchange rate at NIS 4.9864/€, 0.28% higher than the day before.
Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2010
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