Shekel gains against dollar

Foreign real estate buyers deterred by strong shekel

With the current geo-political uncertainty in the Middle East, as Egypt remains rocked by protests, the shekel weakened yesterday.

The shekel is gaining against the dollar in morning foreign currency trading.

The shekel-dollar exchange rate is down 0.33% to NIS 3.6978/$, and the shekel-euro exchange rate is little changed at NIS 5.0808/�.

Globally, the dollar is weakening 0.17% against the euro.

With the current geo-political uncertainty in the Middle East, as Egypt remains rocked by protests, the shekel weakened yesterday.

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.71/$, 0.815% higher than the day before, and set the shekel-euro representative exchange rate at NIS 5.0816/�, 0.662% higher than the day before. The shekel-pound rate rose nearly 1% to NIS 5.9015/₤.

Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2011