The shekel is strengthening today against the dollar and against the euro after Russia announced that it is pulling back some of its troops from near the Ukrainian border. In afternoon inter-bank trading, the shekel exchange rate is down 1.01% against the dollar at NIS 3.229/$ and down 0.63% against the euro at NIS 3.663/€.
On the TASE, the Tel Aviv 35 Index is currently 2.13% higher at 1992.53 points and the Tel Aviv 125 Index is 1.86% higher at 2077.36 points.
Yesterday, the Bank of Israel set the representative shekel-dollar rate up 0.835% from Friday, at NIS 3.262/$, and the representative shekel-euro rate was set 0.060% higher at NIS 3.687/€.
The shekel was trading yesterday at its weakest against the dollar since July 2021, as investors fled to safe haven currencies like the dollar.
Later today the Central Bureau of Statistics will announce the Consumer Price Index for January, with all eyes on whether the rising inflation inflicting the US and Western Europe will sweep into Israel. The economists, however, predict that the CPI reading for January was between 0% and a rise of 0.1%, well below the US figure of 0.6%.
Published by Globes, Israel business news - en.globes.co.il - on February 15, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.