The shekel is again strengthening sharply today against the dollar and against the euro. In early afternoon inter-bank trading the shekel-dollar exchange rate was down 0.78% at NIS 3.552/$ and down 1% against the euro at NIS 3.851/€.
Yesterday, the Bank of Israel set the shekel-dollar exchange rate down 0.306% from Friday at NIS 3.5800/$ and the shekel-euro rate was unchanged at NIS 3.8897/€.
Boosted by the easing of the lockdown in Israel and the formation of a new government, the shekel is at levels not seen since early March.
For its part the dollar has gained against the world’s major currencies on safe haven buying as the oil price has slumped unprecedentedly into negative territory. However, oil’s woes may eventually come to weigh on the US currency.
Published by Globes, Israel business news – www.globes-online.com – on April 21, 2020
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