Shekel-euro rate above 4 for first time since Feb

Shekels Photo: Shutterstock

French President Emmanuel Macron's victory last week has boosted the European currency.

The shekel is weakening against the dollar and against the euro today. In evening inter-bank trading, the shekel-dollar exchange rate was up 0.21% from this afternoon's representative rate at NIS 3.6104/$ and up 0.26% against the euro at 4.013/€.

This afternoon, Bank of Israel set the shekel-dollar representative rate down 0.083% compared with yesterday's rate at NIS 3.603/$, and the representative shekel-euro rate was set up 0.429% at NIS 4.002/€.

This is the first time that the shekel-euro exchange rate has been set above NIS 4/€ since early February 2017. The shekel-euro rate hit a low point on March 1 at NIS 3.82/€ and is still well below its rate 12 months ago of NIS 4.30/€ before the UK's Brexit referendum.

The euro has been boosted over the past week by the French presidential victory of Emmanuel Macron and his constructive talks with German Chancellor Angela Merkel about EU reform. At the same time, the dollar is weaker against the euro due to concern with President Trump's performance.

Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2017

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

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Shekels Photo: Shutterstock
Shekels Photo: Shutterstock
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