The shekel is strengthening against the dollar and euro in morning inter-bank trading today, as the markets react to yesterday's EU summit meeting on the eurozone debt crisis. The shekel-dollar exchange rate is down 0.50%, compared with yesterday's representative rate, to NIS 3.631/$, and the shekel-euro exchange rate is down 0.05% to NIS 5.079/€.
Foreign currency investors are responding to last night's EU announcement to expand the eurozone rescue package to €1 trillion, as well as a 50% haircut on Greece's debt, and providing an unspecified amount to strengthen European banks.
In addition, investors are reacting to reports in the official "China Daily" newspaper that the Chinese government is considering participating in the European debt bailout fund.
In international markets, the dollar has strengthened 0.6% against the euro to $1.4/€, and is trading at ¥75.86/$ against the Japanese yen.
Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2011
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