The euro is at a 14 year low against the Israeli currency.
The shekel is strengthening today against the dollar and against the euro after the Bank of Israel Monetary Committee yesterday left the December interest rate unchanged at 0.1%. In late morning inter-bank trading, the shekel was down 0.61% against the dollar from yesterday's representative rate at NIS 3.833/$, and down 0.68% against the euro at NIS 4.061/€ - a 14 year low.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.362% today compared with Friday's rate at NIS 3.857/$, and the representative shekel-euro rate was set down 0.276% at NIS 4.089/€.
FXCM Israel said in its morning survey, "The shekel-dollar exchange rate continues to correct downwards and over the past day has fallen below NIS 3.84/$, its lowest point since November 17. The rate has been correcting since November 21 when it peaked at NIS 3.885/$. However, the price structure still points to a positive trend for the dollar against the shekel in the medium term."
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Shekels Photo: Shutterstock