Shekel resumes gains

Shekel Photo: Shutterstock

The shekel-dollar exchange rate had been anchored around the NIS 3.45/$ rate for the past month.

The shekel is strengthening today against the dollar and against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate was down 0.44% at NIS 3.451/$ and down 0.41% against the euro at NIS 3.867/€.

Yesterday, the Bank of Israel set the shekel-dollar exchange rate up 0.873% from Monday at NIS 3.466/$ and the shekel-euro rate up 0.209% at NIS 3.883/€.

After a brief correction, the Israeli currency is again gaining ground today. Despite a second wave and an alarming rise in new Covid-19 infections, the Israeli health system is not being overwhelmed by serious cases and a return to lockdown seems unlikely.

The shekel-dollar exchange rate was anchored around the NIS 3.45/$ rate throughout June but with the coronavirus pandemic wreaking havoc with the global economy, exchange rate volatility cannot be ruled out in the coming months.

Published by Globes, Israel business news - en.globes.co.il - on July 1, 2020

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

Shekel Photo: Shutterstock
Shekel Photo: Shutterstock
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