Currency trading at the banks was characterized today by relatively large supply, characteristic of the beginning of the month. The supply was injected by companies and businesses in order to pay salaries and suppliers.
Bank of Israel today published the first ever representative exchange rate for the euro - NIS 4.896. This rate reflects the 0.85% gain posted by the German mark and the French franc. The euro is now included in the currency basket instead of these two currencies.
Today also posted a 0.24% drop in the representative dollar exchange rate to NIS 4.15, completing a drop of 2.25% since the beginning of November. The currency basket exchange rate gained a minimal 0.002% to NIS 4.5589 and is now 17.8% below the upper limit of the fluctuation range.
Currency trading at the banks was characterized today by relatively large supply, characteristic of the beginning of the month. The supply was injected by companies and businesses in order to pay salaries and suppliers.
Published by Israel's Business Arena January 4, 1999