Shekel strengthening against dollar, euro

November 21, 2011 10:07

The shekel strengthened against the dollar and euro in inter-bank trading Monday. The shekel dollar exchange rate was down 0.25% at NIS 3.72/$, and the shekel euro exchange rate was down 0.43% at 5.02/€.

In international markets, the dollar continued to weaken against the euro and was trading at $1.35/€. The dollar was trading at ¥76.81/$ against the Japanese yen.

Global markets were reacting on Monday to developments in Europe - Spain's opposition, the Popular Party (PP), led by Mariano Rajoy, won an absolute majority in Sunday's parliamentary elections with 63% of the votes.

In other global matters, the bipartisan US Congressional supercommittee, which proposed cutting $1.2 trillion from the deficit over ten years together with tax hikes, was focusing on how to announce its failure to reach a deal.

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