Shekel gains more ground

Shekels Photo: Shutterstock

The shekel weakened 3.65% against the euro in 2017 but strengthened 10.2% against the dollar.

The shekel is strengthening against the dollar and against the euro this morning. In inter-bank trading, the shekel-dollar exchange rate was down 0.14% from yesterday's representative rate at NIS 3.452/$, and down 0.34% against the euro at 4.156/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.288% from Friday's exchange rate at NIS 3.457/$ and set the shekel-euro rate up 0.424% at 4.170/€.

The dollar remains weak on global markets but has strengthened slightly against the euro after falling to a four month low against the euro yesterday. The respite in the euro rally is also reflected against the shekel.

The shekel is at its strongest against the dollar since the summer of 2014. In 2017, the shekel strengthened 10.2% against the dollar. Over the year the shekel also strengthened 1.2% against sterling but weakened 3.6% against the euro.

Published by Globes [online], Israel business news - www.globes-online.com - on January 3, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Shekels Photo: Shutterstock
Shekels Photo: Shutterstock
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