Shekel strengthens against dollar

By YOSSI NISSAN/GLOBES
December 17, 2012 13:04

The shekel is stronger against the dollar and slightly weaker against the euro at the start of the trading week on the foreign exchange market. The shekel-dollar exchange rate is down 0.49% in comparison with Friday's representative rate, at NIS 3.7803/$. The shekel-euro rate is up 0.08%, at NIS 4.9739/€.

On world markets, the US dollar is mixed against the other major currencies. The euro is slightly weaker, at $1.3154/€; the pound sterling is slightly stronger, at $1.6181/£, while the dollar is stronger against the yen, at ¥84.08/$.

Israel's Consumer Prices Index surprised on Friday, with a 0.5% fall for November. There is speculation that the Bank of Israel will cut its interest rate further after a series of low CPI readings.


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