The shekel is weakening today against the dollar and against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is up 0.35% against the dollar at NIS 3.689/$ and up 0.12% against the euro at 4.148/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.190% at NIS 3.676/$ from Friday's rate and set the shekel-euro rate down 0.786% at 4.143/€.
The shekel is weakening against the dollar and against the euro as Israeli enters its second day of escalating strikes across the Gaza border. Israel's south has suffered a barrage of rockets while the Israel Air Force has been bombing Hamas strategic targets in the Gaza strip. The shekel had been boosted yesterday by the Bank of Israel's announcement that it is halting purchases of foreign currency as part of its program to offset the impact of natural gas sales on the exchange rate.
On world markets, US currency remains close to a 16-month high on subdued investor confidence due to the continuing trade tensions between the US and China, fears of a no-deal Brexit, and the standoff between Italy and the EU over the country's deficit-deepening budget.
Published by Globes, Israel business news - en.globes.co.il - on November 13, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018