The shekel strengthened against the euro as well after the Bank of Israel announced no change in its interest rate.
The Bank of Israel's decision to leave its key lending rate unchanged for April at 0.1%, and to refrain from a quantitative easing program, at least for the time being, has sent the shekel-dollar rate tumbling to below NIS 4.
After the representative shekel-dollar rate was set at NIS 4.018 this afternoon, already 0.86% below Friday's rate, the exchange rate is now an additional 1.32% lower, at NIS 3.9648.
The representative shekel-euro rate was set at NIS 4.3737/€ this afternoon, 1.04% higher than Friday's rate, but since the interest rate announcement the rate has fallen back 0.78%, to NIS 4.3397.
Published by Globes [online], Israel business news - www.globes-online.com - on March 23, 2015
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