The dollar exchange rate is currently at its lowest level of the past five months, being 8% off its peak at the beginning of October.
The dollar continues to weaken. The dollar representative rate of exchange today posted a further 0.07% downturn to NIS 4.028. Light demand for foreign currency however, pushed the currency basket exchange rate up 0.14% to NIS 4.317. The demand included devaluation hedging instruments. The basket exchange rate is only 8.5% above the floor of the fluctuation band.
The dollar exchange rate is currently at its lowest level of the past five months, being 8% off its peak at the beginning of October.
The Euro exchange rate rose today by 0.58% to NIS 4.3952, after sliding 1.8% at the end of last week. The pound sterling rose 0.15% to NIS 6.4871. The Japanese yen rose 0.18% to NIS 3.3103.
Published by Israel's Business Arena March 8, 1999