The shekel was slightly weaker on Friday morning, in thin trading, at the end of a short holiday trading week, in which the Israeli currency had strengthened during all three days of trading. The Bank of Israel set the shekel-dollar representative rate up 0.128% from Thursday's rate at NIS 3.923/$, and the representative shekel-euro rate was set up 0.272%, at NIS 4.381/€.
After the representative rate was set, and the US published disappointing employment figures for the past month, raising the spectre of a slowdown, the shekel was flat against the dollar and weakened against the euro in afternoon inter-bank trading, with the rate up 0.06% against the dollar to NIS 3.925/$ and up 1.03% against the euro to NIS 4.426/€.
Over the past week, in which there was no foreign currency trading on Monday due to the start of the Sukkot holiday, the shekel strengthened 0.5% against the dollar and also strengthened by 0.5% against the euro. There will be no new representative rate set until Tuesday, after the Simchat Torah holiday.
Published by Globes [online], Israel business news - www.globes-online.com - on October 2, 2015
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