Shekel gains in wake of US elections

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative

The shekel is taking the complexities and confusion around the US presidential election results in its stride.

The shekel is strengthening today against the dollar and against the euro. In evening futures trading the shekel-dollar exchange rate is down 0.44% at NIS 3.395/$ and down 0.43% against the euro at NIS 3.979/€.

Earlier today, the Bank of Israel set the shekel 0.176% down from Tuesday at NIS 3.410/$, and the representative shekel-euro rate was set 0.130% lower at NIS 3.996/€.

The shekel is taking the complexities and confusion around the US presidential election results in its stride and has fallen back below the psychologically important NIS 3.40/$ threshold.

Stock markets worldwide are rising and despite confusion and uncertainty a likely picture is emerging of a narrow Joe Biden victory but Republican-held Senate, which has quelled market fears of heavy public spending by a Democratic party presidential administration.

Published by Globes, Israel business news - en.globes.co.il - on November 4, 2020

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

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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