The shekel is trading at its strongest rate against the US currency since early March before the full economic force of the coronavirus pandemic hit.
The shekel is again strengthening today against the dollar and is stable against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate was down 0.28% at NIS 3.5422/$ and up 0.11% against the euro at NIS 3.8498/€.
Yesterday, the Bank of Israel set the shekel-dollar exchange rate down 0.782% from Monday at NIS 3.552/$ and the shekel-euro rate down 1.134% at NIS 3.846/€.
Despite the dollar's strength worldwide as a safe haven currency, the shekel continues to appreciate against it. The shekel is trading at its strongest rate against the US currency since early March before the full economic force of the coronavirus pandemic hit.
The Israeli economy has been boosted by the easing of the lockdown while the formation of a new national unity government after more than a year of political uncertainty has also created a more positive economic outlook.
Published by Globes, Israel business news - www.globes-online.com - on April 22, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020
shekel / Photo illustration: Shutterstock