On the first foreign currency trading day of 2022, the shekel is strengthening against the dollar and euro. In afternoon inter-bank, the shekel exchange rate is down 0.40% against the dollar at NIS 3.089/$ and down 0.74% against the euro at NIS 3.506/€.
On the foreign exchange market on Friday, the shekel-dollar representative rate was set unchanged, at NIS 3.11/$, and the shekel-euro representative rate was set 0.060% lower, at NIS 3.5199/€.
Having strengthened by 3% against the dollar in 2021 and by more than 10% against the euro, the Israeli currency's appreciation is continuing into 2022.
Later this afternoon, the Bank of Israel will announce its first interest rate decision of 2022. The rate is almost certain to remain unchanged at its historic low of 0.1%. The focus will be on any revision to the inflation forecast as well as growth, unemployment and other expectations.
Published by Globes, Israel business news - en.globes.co.il - on January 3, 2022.
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