Shekel-dollar rate passes the 4 NIS = 1 US$ threshold

Exchange rate reaches the threshold for the first time since early 2009; Shekel-euro exchange rate reaches 1 NIS = 4.911 €.

By GLOBES / MOSHE GOLAN

 

In inter-bank foreign currency trading Wednesday the shekel continued to weaken against the dollar as the US currency gained ground against the world’s major currencies. For the first time since June 2009, the shekel-dollar exchange rate pushed through the NIS 4/$ threshold.
shekel and dollar exchange

shekel and dollar exchange
Photo: REUTERS

In morning trading the shekel was up 0.37 percent compared with Tuesday’s representative rate, to NIS 3.997/$, having briefly gone over NIS 4/$ at the opening, and the shekel-euro exchange rate was up 0.38% to NIS 4.911/€.

Looking ahead, ATRADE believes the shekel will bounce back. “Despite the expected strengthening of the dollar against the shekel we believe that the breakthrough won’t carry on for many days after Bernanke hinted last night that he may launch an additional financial incentives plan, the positive momentum of the dollar will fade and the dollar will find it difficult to continue much above NIS 4/$.”

 

View original Jerusalem Post publication at: http://www.jpost.com/Business/BusinessNews/Article.aspx?id=277888

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