Shekel ends week stronger, well below NIS 3.90/$

The shekel strengthened against the dollar and the euro on Friday morning. At lunchtime, the Bank of Israel set the shekel-dollar representative rate down 0.665% from Thursday's rate at NIS 3.883/$, and the representative shekel-euro rate was set down 0.547% at NIS 4.31/�. The shekel-Japanese yen rate was only slightly down 0.060% at NIS 3.321/� and was down 1.054% against sterling to NIS 5.644/�.

After the representative rate was set, the shekel continued to strengthen in inter-bank trading. The Israeli currency was down a further 0.28% against the dollar at NIS 3.872/$ and down 0.22% against the euro at NIS 4.336/�.

Over the past week, the shekel has gained 1.7% against the dollar and lost 0.8% against the euro, reflecting movements on world markets, which saw the dollar losing ground to the world's major currencies, and especially the euro. The latest US job figures, which will be published later today, will give an indication of whether the US economy is recovering or slowing down, although the market has already priced in lower US Federal Reserve rate hike expectations.

Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2016

Shekel ends week stronger, well below NIS 3.90/$

Over the past week, the Israeli currency has gained 1.7% against the dollar.