Shekel opens 2019 with gains

Shekel Photo: Shutterstock

In 2018, the shekel weakened 8.5% against the dollar after strengthening by 10% in 2017.

The shekel is strengthening today against both the dollar and the euro. In afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.12% against the dollar at NIS 3.744/$ and down 0.40% against the euro at 4.275/€,

On Monday, the Bank of Israel set the shekel-dollar representative rate up 0.027% at NIS 3.774/$ from Friday's rate and set the shekel-euro rate up 0.479% at 4.302/€. There was no foreign currency trading yesterday with world markets closed for New Year's Day.

In 2018, the shekel weakened 8.5% against the dollar, after strengthening by 10% in 2017 and weakened by nearly 3% against the euro after weakening by 4% in 2017.

On world markets the dollar is weaker on concerns about the US government shutdown over the standoff between President Donald Trump and the House of Representatives on the 2019 budget allocation for the US-Mexico border wall. The Japanese yen and Swiss franc have become the preferred safe haven currencies for investors.

Published by Globes, Israel business news - en.globes.co.il - on January 2, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Shekel Photo: Shutterstock
Shekel Photo: Shutterstock
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