Shekel gaining ground

shekels
shekels

FXCM Israel: The dollar is under pressure against the shekel. Falling below NIS 3.75/$ could speed up the fall to NIS 3.73/$.

The shekel is strengthening this morning in inter-bank trading against the dollar and against the euro. The shekel-dollar rate is down 0.35% to NIS 3.77/$ and the shekel-euro rate is down 0.10% to NIS 4.133/€.

On Friday, Bank of Israel set the representative shekel-dollar rate was up 0.053% at NIS 3.783/$, and the representative shekel-euro rate was set down 0.143%, at NIS 4.137/€.

FXCM Israel research department said this morning, "The shekel-dollar exchange rate is again under pressure and nearing the lower end of the NIS 3.75-3.80/$ trading range. Breaking below NIS 3.75/$ could speed up the fall to NIS 3.73/$ and beyond. The dollar is weakening after on Friday the US employment index showed only a 0.2% rise in employment costs, significantly below expectations."

Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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