Shekel continues losing ground
Psagot Investment House head of macro research Guy Beit-Or predicted that a year from now, the shekel will be at the current rate or stronger.
The shekel is weakening today against the dollar and against the euro. In afternoon inter-bank trading, the shekel-dollar exchange rate was up 0.68% against the dollar at NIS 3.254/$ and the shekel-euro rate was up 0.47% at NIS 3.939/€.
Yesterday, the Bank of Israel set the representative shekel-dollar rate 0.155% higher from Monday, at NIS 3.232/$, and the representative shekel-euro rate was set 0.634% higher, at NIS 3.921/€.
RELATED ARTICLES
The shekel continues to depreciate after last week s unexpected announcement by the Bank of Israel that it will buy $30 billion in foreign currency in 2021 in order, to provide the market with certainty regarding the Bank’s commitment to dealing with the recent sharp appreciation.