Prico: It's realistic to think of NIS 3.00/$

Shekel Photo: ASAP Creative

The Israeli currency is stable today after a week of strong gains against the dollar at the end of last month.

The shekel is weakening today against the dollar and strengthening against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate was up 0.09% at NIS 3.369/$ and down 0.12% against the euro at NIS 3.984/€.

Yesterday, the Bank of Israel set the shekel 0.388% up from Tuesday at NIS 3.366/$, and the representative shekel-euro rate was set 0.741% lower at NIS 3.989/€.

Prico Risk Management and Investments CEO Yossi Fraiman says that the dollar could continue weakening against the shekel. "Breaking below the NIS 3.35/$ barrier could indicate a movement towards NIS 3.30/$ and after that even getting close to the NIS 3.20/$ low-point of 2008. The pro-shekel movement is far from being fully realized and teaches us that a strong shekel at the $3 level is possible and could be a reality in the coming months.

Published by Globes, Israel business news - en.globes.co.il - on September 3, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018