The shekel was stronger against the dollar and against the euro on Friday morning. The Bank of Israel set the shekel-dollar representative rate down 0.412% from Thursday's rate at NIS 3.867/$, and the representative shekel-euro rate was set down 0.148%, at NIS 4.253/€.
After the representative rate was set, the shekel continued to strengthen against the dollar and against the euro in afternoon inter-bank trading, with the rate down 0.60% against the dollar to NIS 3.86/$ and down 0.21% against the euro to NIS 4.25/€.
Over the past week, the shekel strengthened 0.4% against the dollar after weakening 1.7% last week. The shekel strengthened 1.3% against the euro this week after strengthening 0.7% last week.
During the week the Bank of Israel Monetary Committee left the interest rate for November at its historic low of 0.1% for the eighth successive month and Governor Karnit Flug said that the rate would not be cut unless there were "unusual circumstances." Meanwhile in the US, although the Fed kept the interest rate unchanged at 0%, it did hint in an exceptional statement that the time might be right to raise the rate next month.
Published by Globes [online], Israel business news - www.globes-online.com - on October 30, 2015
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