Shekel gains more ground against dollar

Shekels Photo: Shutterstock
Shekels Photo: Shutterstock

The shekel is strengthening against the dollar for the fourth straight day after the US Fed kept the interest rate unchanged.

The shekel is again strengthening against the dollar and is firm against the euro today. This is the fourth straight trading session this week in which the shekel has gained ground against the dollar. In morning inter-bank trading, the shekel-dollar exchange rate was down 0.26% from yesterday's representative rate at NIS 3.504/$, and down 0.10% against the euro at 4.077/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.227% from yesterday at NIS 3.513/$ and set the shekel-euro rate down 0.349% at 4.081/€.

The dollar is slightly weaker on global markets after the US Federal Reserve decided to hold interest rates, as expected. This has allowed the shekel to continue pushing the dollar back towards the key NIS 3.50/$ threshold.

Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2017

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

Shekels Photo: Shutterstock
Shekels Photo: Shutterstock
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