Shekel gains despite dollar rally on world markets

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative

Since the beginning of February, the Israeli currency has moved through a narrow trading band of less than 3% between NIS 3.57/$ and NIS 3.66/$.

The shekel is strengthening today against the dollar and against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.45% against the dollar at NIS 3.586/$ and down 0.58% against the euro at 4.075/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.055% at NIS 3.602/$ from Monday's rate, and set the shekel-euro rate down 0.146% at 4.099/€.

The shekel is stronger today even though the dollar is gaining on world forex markets following remarks by senior Fed figures against the kind of aggressive rate cuts that US President Trump is seeking.

Despite all the international uncertainties, the shekel has been remarkably stable over the past five months against the dollar. Since the beginning of February, the Israeli currency has moved through a narrow trading band of less than 3% between NIS 3.55/$ and NIS 3.66/$.

Published by Globes, Israel business news - en.globes.co.il - on June 26, 2019

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

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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