The dollar has hit a new 3-year low against the shekel and a 10-month low against the euro.
The shekel is again strengthening against the dollar and weakening against the euro. In late morning inter-bank trading, the shekel-dollar exchange rate was down 0.28% at NIS 3.508/$ and up 0.88% against the euro at NIS 3.994/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.509% at NIS 3.518/$ from Monday's rate and set the shekel-euro rate up 0.182% at 3.959/€.
The shekel-dollar exchange rate has hit a new three-year low and is approaching the key psychological NIS 3.50/$ barrier. The dollar is under pressure after President Donald Trump's healthcare bill was delayed by Congress while the eurozone is resurgent and the dollar has hit a ten month low against the euro.
US Federal Reserve chair Janet Yellen spoke in Europe yesterday and spoke about a continued gradual rise in US interest rates. Last week the Fed raised the US interest rate by 25 basis points to 1.25-1.5%, the fourth rate hike in the past 18 months.
Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
Shekels Photo: Shutterstock