The shekel has weakened against the dollar and euro in morning inter-bank trading on Monday, 8 Adar II. The shekel-dollar exchange rate has risen 0.10%, compared with Friday’s representative rate, to NIS 3.463/$, and the shekel-euro exchange rate has risen 0.09% to NIS 4.805/€. The shekel-dollar exchange rate is at a 30-month low.
FXCM Israel says this morning, “The dollar continues to lose ground. Last week the Dollar Index fell to its lowest level since October 2013. Other key indices, such as the dollar-euro and dollar-pound exchange rates, saw major technical breakthroughs by the dollar, which may signal a break by the dollar.
To read the entire article, please click on hyperlink to Globes.
(YWN – Israel Desk, Jerusalem)
Umm – I know it’s from Globes, but the Shekel is STRENGTHENING against the Dollar, not weakening. It’s the Dollar that’s weakening against most other currencies.
an Israeli Yid
The article appears to be reporting a brief period of relief from the overall trend of the Shekel gaining on the American dollar. From an Israeli perspective this is horrible since it means that Israeli exports become more expensive, tourism more costly for the tourists and various transfer payments (foreign aid, money raised by charities, etc.) worth less.