Shekel advances against dollar

The shekel is strengthening today against the dollar and stable against the euro. In late morning inter-bank trading, the shekel-dollar exchange rate is down 0.27% against the dollar at NIS 3.633/$ and up 0.01% against the euro at 4.119/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate unchanged at NIS 3.643/$ from Monday's rate and set the shekel-euro rate down 0.148% at 4.115/€.

After several weeks of sustained gains on world forex markets, albeit not against the shekel, the dollar is weaker today on expectations that the US-China trade talks will make progress as investors have an increased appetite for higher risk assets.

In Israel, the Central Bureau of Statistics will announce the Consumer Price Index (CPI) for January on Friday. Economists predict that the January CPI fell 0.3%. But bearing in mind that the January 2018 CPI fell 0.5%, this would push inflation over the past 12 months back up to 1%, just at the bottom of the 1%-3% annual target range of the Bank of Israel.

Published by Globes, Israel business news - en.globes.co.il - on February 13, 2019

Shekel advances against dollar

Economists predict that the January CPI, to be announced on Friday, fell 0.3%.