Shekel strengthens against dollar

shekel
shekel

Prico: The weakness of the dollar on global markets has halted the shekel slide.

The shekel is strengthening slightly against the dollar, and weakening slightly against the euro in inter-bank trading this morning. The shekel-dollar rate is down 0.16% at NIS 3.857/$, and the shekel-euro rate is up 0.07% at NIS 4.808/€.

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.863/$, down 0.026% on Monday's rate, and set the shekel-euro representative exchange rate at NIS 4.804/€, up 0.211%.

Prico CEO Yossi Fraiman said, "Disappointment with the consumer confidence data published in the US yesterday and Thanksgiving which begins there tomorrow support the sale of dollars against other major currencies and the strengthening of the euro, Japanese yen, sterling and the Swiss franc. The weakness of the dollar and its stabilization has halted the continued depreciation of the shekel on the local market."

Oil prices fell another 2% yesterday to $74 per barrel - a four year low.

Published by Globes [online], Israel business news - www.globes-online.com - on November 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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