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Tuesday, April 1, 2008

Shekel against dollar on the higher ground

The shekel-dollar rate has risen in the morning inter bank trading, after being traded in foreign currency options yesterday it resulted a prominent 0.4% increase to NIS 3.534/$. The shekel-dollar rate rode up by 3.5% over last week, with weekends closing representative rate overall set at NIS 3.519/$. It is considered that last Monday's interest rate deduction by the Governor of the Bank of Israel Mr. Stanley Fischer, which narrowed down the gap between the shekel and dollar interest rates which will be followed by further cuts in line with similar moves by the US Federal Reserve Board. The shekel-dollar rate has rose from 0.97% so far today, to NIS 3.553/$, while the shekel-euro rate has seen an overall rise of 1.1%, to NIS 5.6137/€, showing up the ride up the scale for Shekel against dollar.

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Tuesday, April 1, 2008

Shekel against dollar on the higher ground

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