The shekel weakened today against the dollar and against the euro. Earlier today, Bank of Israel set the representative shekel-dollar rate 0.511% higher from Friday, at NIS 3.342/$, and the representative shekel-euro rate was set 0.365% higher, at NIS 3.933/€.
In afternoon inter-bank trading after the rate was set the shekel strengthened slightly, and was down 0.14% against the dollar at NIS 3.337/$ and down 0.10% against the euro at NIS 3.929/€.
The shekel is trading at its weakest against the dollar since November 21, more than four months ago. The Israeli currency is being weighed by concerns that Israel’s fourth election in two years has once again produced results, which gives neither the incumbent Prime Minister Benjamin Netanyahu, nor Opposition Leader Yair Lapid, a clear path to forming a new government.
Published by Globes, Israel business news – en.globes.co.il – on March 29, 2021
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