Shekel gains as regional tensions ease

Shekel Photo: ASAP Creative

Having lost 0.7% against the dollar in the past few days on concerns of an Iranian revenge attack, the shekel is again strengthening.

The shekel is strengthening today against the dollar and is stable against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate is down 0.26% at NIS 3.466/$ and down 0.49% against the euro at NIS 3.873/€.

Yesterday, the Bank of Israel set the representative shekel-dollar rate up 0.231% today from Friday, at NIS 3.463/$, and the representative shekel-euro rate was set up 0.800% at NIS 3.891/€.

The shekel has lost ground in recent days as investors sought safe haven currencies following the US targeted assassination of senior Iranian commander Qasem Soleimani and the vows of revenge emanating from Tehran. But fears that Israel would come under attack have been soothed for the time being and after depreciating by 0.7% in the past few days against the dollar, the Israeli currency is again strengthening.

On Thursday the Bank of Israel Monetary Committee will announce the new interest rate but no change is expected.

Published by Globes, Israel business news - - on January 7, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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