Shekel opens flat

IMF Managing Director Christine Lagarde today denied that there was any currency war.

The shekel opened flat in morning inter-bank trading today. The shekel-dollar exchange rate has edged up 0.03%, compared with Friday's representative rate, to NIS 3.685/$, and the shekel-euro exchange rate has edged up 0.07% to NIS 4.912/€.

In international markets, the dollar weakened to $1.33/€ against the euro. Global markets are still dealing with what is being called a currency war.

IMF Managing Director Christine Lagarde today denied that there was any such war. "There's been lots of talk of currency wars, and we have not seen any such thing as a currency war. We've heard currency worries, not currency wars," she said at the G20 meeting of finance ministers in Moscow. "We've not seen confrontation but deliberation, dialogue, discussions and clearly this G-20 meeting has been extremely helpful and productive."

Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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