Shekel gains continue

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative

The Israeli currency has been appreciating this week after weakening last week.

The shekel is again strengthening today against the dollar and against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.34% against the dollar at NIS 3.671/$ and down 0.49% against the euro at 4.166/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.190% at NIS 3.683/$ from Tuesday's rate and set the shekel-euro rate down 0.153% at 4.187/€.

On international forex markets, the US dollar is weaker on continuing trade tensions with China and concerns about lower US growth, while the euro is down on Brexit uncertainties and ahead of the ECB's interest rate announcement, which will set up plans for rate hikes in 2019.

In contrast, concerns about falling growth in Israel were slightly eased last week when the Central Bureau of Statistics revised upwards its GDP growth figure for the third quarter of 2018 from 2.1% to 2.3%, on an annualized basis.

Published by Globes, Israel business news - en.globes.co.il - on January 24, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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