Shekel ends week strengthening

shekels
shekels

The shekel has appreciated 2.5% against the dollar since Tuesday.

The shekel strengthened against the dollar on Friday morning at the end of a short holiday trading week, but was slightly weaker against the euro. The Bank of Israel set the shekel-dollar representative rate down 0.156% from Thursday's rate at NIS 3.842/$, and the representative shekel-euro rate was set up 0.053%, at NIS 4.348/€.

After the representative rate was set, the shekel continued to strengthen against the dollar and against the euro in afternoon inter-bank trading, with the rate down 0.52% against the dollar to NIS 3.822/$ and down 0.23% against the euro to NIS 4.338/€.

Over the past week, in which there was no foreign currency trading on Monday due to the Simchat Torah holiday, the shekel strengthened 2.5% against the dollar, after strengthening 0.5% last week. The shekel strengthened 1% against the euro this week after strengthening 0.5% last week.

The escalating violence and spate of stabbings has not yet impacted foreign currency trading in Tel Aviv or yet taken a toll on the Israeli currency.

Published by Globes [online], Israel business news - www.globes-online.com - on October 9, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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