The shekel-euro exchange rate fell and the shekel-dollar exchange rate rose, after the cut.
The shekel has strengthened against the euro in late afternoon inter-bank trading, after European Central Bank President Mario Draghi cut the euro refinancing rate from 0.25% to 0.15% and its deposit rate from zero to minus 0.15%. The shekel-euro exchange rate fell 0.47% to NIS 4.703/€, after the Bank of Israel set today's representative rate of NIS 4.725/€, down 0.02% on Tuesday's rate.
The shekel-dollar exchange rate rose 0.24% to $3.48/$ in late afternoon inter-bank trading, after the Bank of Israel set the shekel-dollar exchange rate at NIS 3.472/$, down 0.03% on Tuesday's rate.
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2014
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