The shekel is strengthening today against the dollar and weakening against the euro. In early afternoon inter-bank trading the shekel exchange rate was down 0.24% against the dollar at NIS 3.434/$ and up 0.40% against the euro at NIS 3.756/€. Yesterday, the Bank of Israel set the representative shekel-dollar rate up 0.379% from Tuesday at NIS 3.442/$, and the representative shekel-euro rate was set up 0.703% at NIS 3.741/€. RELATED ARTICLES Israel's Health Ministry warns on all overseas travel Despite slowdown concerns, Bol keeps rate unchanged The dollar is weaker on world markets and against the shekel in the belief that the US Federal Reserve will cut the interest rate by April due to the potentially recessionary effects of the coronavirus epidemic. Analysts and traders believe that with a higher interest rate than Europe, the Fed has more to cut and there could be as many as three rate cuts by March 2021. The European Central Bank could also impose one rate cut and all this will put the Bank of Israel under pressure to cut the rate from 0.25%to 0.1% at its next meeting on April 6. Earlier this week the Bank of Israel Monetary Committee kept the rate unchanged. Published by Globes, Israel business news - en.globes.co.il - on February 27, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
