The shekel is stronger today as trading on the foreign currency markets remains volatile.
The shekel is strengthening sharply in foreign currency trading in Tel Aviv today as security concerns eased following the Israeli government's decision to remove metal detectors from the Temple Mount area. In early afternoon inter-bank trading, the shekel-dollar exchange rate was down 0.75% at NIS 3.563/$ and down 0.67% against the euro at NIS 4.152/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.928% at NIS 3.590/$ from Friday's rate and set the shekel-euro rate up 0.969% at 4.180/€.
In June, the shekel reached its strongest against the dollar since Operation Protective Edge 2014. But in the past week, as security concerns escalated, the shekel lost ground. The crisis would appear to be over but the market is not fully convinced and trading remains volatile and jittery.
Meanwhile the dollar has fallen to a 13-month low against the basket of foreign currencies on weak US data and more robust growth in Europe and Asia.
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
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