The shekel-euro rate fell 0.05% more after the representative rate was set.
The local foreign currency market continues to ignore economic and political events. The representative shekel-dollar exchange rate fell 0.09% to NIS 4.527/$ yesterday, and dropped to NIS 4.525/$ a few minutes after the representative rate was set. The representative shekel-euro rate dropped 1% to NIS 5.5458/€, and also fell 0.05% more to NIS 5.543/€ after the representative rate was set.
The volume of foreign currency trading in cash was unexceptional. Foreign financial institutions led most activity. Trading in cash was estimated at $500 million, of which $150 million was by foreign financial institutions.
Published by Globes [online] - www.globes.co.il - on August 23, 2004