Shekel ends the month strongly

Shekels Photo: Shutterstock

During November the Israeli currency gained 0.6% against the dollar but lost 1.5% against the euro.

The shekel is strengthening against the dollar and against the euro today, the last trading day of the month. In afternoon inter-bank trading, the shekel-dollar exchange rate was down 0.30% from yesterday's representative rate at NIS 3.494/$, and down 0.15% against the euro at 4.139/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.029% from yesterday at NIS 3.504/$ and set the shekel-euro rate down 0.447% at 4.145/€.

On world forex markets, the dollar has been struggling, especially against the euro, with better than expected data in Europe, in particular in Germany, while growth is slowing in the US.

The shekel remains strong against the dollar after Israel's far better than expected third quarter growth data, which showed GDP growing at 4.1% on an annualized basis. During November the shekel gained 0.6% against the dollar but lost 1.5% against the euro.

Published by Globes [online], Israel business news - www.globes-online.com - on November 30, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Shekels Photo: Shutterstock
Shekels Photo: Shutterstock
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