The shekel is weakening today against the dollar and strengthening against the euro. In afternoon inter-bank trading, the shekel exchange rate is up 1.30% against the dollar at NIS 3.287/$ and down 0.46% against the euro at NIS 3.561/€.
On Friday, the Bank of Israel set the representative shekel-dollar rate up 0.154% from Thursday, at NIS 3.245/$, and the representative shekel-euro rate was set 0.365% lower at NIS 3.577/€.
The shekel is trading today at its weakest against the dollar since July 2021, as investors rush to the safe haven US currency, and the Russian invasion of Ukraine grinds on amid spirited resistance and heavy loss of life. Oil prices have reached $139 per barrel for Brent crude as the Western allies consider a ban on imports of Russian oil.
Stock markets are down sharply today with the Tel Aviv 35 Index down 1.93%, in early afternoon trading, at 1907.28 points.
Published by Globes, Israel business news - en.globes.co.il - on March 7, 2022.
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