Shekel strengthens ahead of July CPI

The shekel is strengthening against the dollar and the euro in inter-bank trading today.

The shekel is strengthening slightly against the dollar and euro in morning inter-bank trading today. The shekel-dollar exchange rate is down 0.13%, compared with yesterday's representative rate, to NIS 4.03/$ and the shekel-euro exchange rate is down 0.28% to NIS 4.969/€.

Foreign currency traders are waiting for the Central Bureau of Statistics to publish the CPI for July after the markets close today, and to publish GDP growth figures for the second quarter tomorrow. According to a "Bloomberg", the analysts' consensus is that the CPI rose by 0.1% in July and that GDP growth will slow to an annualized 2.5% in the second quarter. Both figures could prod the Bank of Israel to make another interest rate cut from the current 2.25%.

Published by Globes [online], Israel business news - - on August 15, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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