The Israeli currency has fallen to NIS 3.65/$ for the first time in a month.
The shekel is strengthening today against the dollar and weakening against the euro. In morning inter-bank trading, the shekel-dollar exchange rate is down 0.34% against the dollar at NIS 3.6495/$ and up 0.52% against the euro at 4.202/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.191% at NIS 3.662/$ from Friday's rate and set the shekel-euro rate up 0.031% at 4.180/€.
The dollar is weaker on world markets after President Donald Trump blasted the US Federal Reserve for what he sees as the too slow a pace of interest rate hikes. Investors are also optimistic about this week's US-China trade talks.
The shekel continues to strengthen and consolidate its position at well below NIS 3.70/$, falling to NIS 3.65/$ for the first time in a month. This despite last week's disappointing data that the Israeli economy only grew by 2%, on an annualized basis, in the second quarter, after rising by more than 4% in each of the three previous quarters.
Published by Globes [online], Israel business news - www.globes-online.com - on August 21, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
Shekel Photo: ASAP Creative