The dollar is gaining on world markets as investors seek safe haven currencies on concerns of an uncertain election outcome.
The shekel is weakening today against the dollar and against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate is up 0.45% at NIS 3.415/$ and up 0.91% against the euro at NIS 3.997/€.
Yesterday, the Bank of Israel set the shekel 0.643% lower from Friday at NIS 3.400/$, and the representative shekel-euro rate was set 0.821% lower at NIS 3.961/€.
The shekel remains above the psychologically important NIS 3.40/$ threshold and is weakening today as investors seek safe haven currencies on concerns of an uncertain election outcome. While international markets would be happy to see a clear cut victory for either Joe Biden or Donald Trump, the fear is that come tomorrow the result will remain uncertain because of the large number of postal ballots, which could take days or even weeks to count.
Published by Globes, Israel business news - en.globes.co.il - on November 3, 2020
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Shekel Photo: ASAP Creative