Shekel resumes losses amid political impasse

shekel  / Photo illustration: Shutterstock

S&P warned that the absence of a stable government will make it difficult to cut fiscal debt.

The shekel weakened today against the dollar and against the euro. Earlier today, the Bank of Israel set the representative shekel-dollar rate 0.120% higher from Tuesday, at NIS 3.330/$, and the representative shekel-euro rate was set 0.156% higher, at NIS 3.907/€.

In afternoon inter-bank trading, after the rate was set, the shekel continued to weaken, and was up 0.23% against the dollar at NIS 3.342/$ and up 0.16% against the euro at NIS 3.919/€.

The shekel is trading at its weakest against the dollar since late November with concerns about political instability continuing after last week's inconclusive election results.

International ratings agency S&P has warned that the absence of a stable government will make it difficult to cut fiscal debt in the medium term and set priorities, although it saw no immediate risks and maintained Israel's A- rating.

Published by Globes, Israel business news - en.globes.co.il - on March 31, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

shekel  / Photo illustration: Shutterstock
shekel / Photo illustration: Shutterstock
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018