Shekel weakens to NIS 3.50/$ threshold

Shekel-dollar ASAP Creative

A poll of economic strategists by "Reuters" found that they do not expect the dollar to strengthen in 2018.

The shekel is weakening against the dollar and strengthening against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is up 0.34% from yesterday's representative rate at NIS 3.498/$, and down 0.57% against the euro at 4.277/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.029% from yesterday's exchange rate at NIS 3.486/$ and set the shekel-euro rate down 0.056% at 4.302/€.

With the world's stock markets stabilizing after the big falls earlier this week, the dollar continues to strengthen on international forex markets especially against the euro. This pattern is reflected in Tel Aviv with the shekel weaker against the dollar but stronger against the euro.

However, a poll of economic strategists by "Reuters" found that even though the US Fed is expected to raise interest rates three times in 2018, they do not expect any major dollar recovery over the year.

Back in Israel, the Bank of Israel published figures to show how aggressive it was last month in weakening the shekel to help exporters. The Bank of Israel purchased $1.8 billion in foreign currency in January - the largest amount purchased for 30 months.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2018

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

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Shekel-dollar ASAP Creative
Shekel-dollar ASAP Creative
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018