The shekel-dollar rate has moved above NIS 3.50/$ for the first time since February 21.
The shekel is weakening today against the dollar and strengthening against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate is up 0.21% against the dollar at NIS 3.507/$ and down 0.35% against the euro at NIS 4.322/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.344% from Tuesday's exchange rate at NIS 3.499/$ and set the shekel-euro rate up 0.247% at 4.337/€.
The dollar is strong on world markets as fears of a trade war recede and it has pushed the shekel above the key NIS 3.50/$ for the first time since February 21. At the same time the euro is weaker on the continuing reluctance of the European Central Bank to change its expansionist policies.
Published by Globes [online], Israel business news - www.globes-online.com - on March 29, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
Shekels Photo: Shutterstock