Shekel strengthens against dollar, weakens against euro

By GUY KATSOVICH/GLOBES
September 4, 2012 13:48

The shekel was strengthening against the dollar, but weakening against the euro in morning inter-bank trading Tuesday. The shekel-dollar exchange rate was down 0.17%, compared with Monday's representative rate, to NIS 4.013/$. The shekel-euro exchange rate was up 0.21% to NIS 5.062/€.

In international markets, the dollar was being traded at $1.26/€ against the euro.

Foreign currency traders were reacting, among other things, to Moody's Investors Service reiterating its A1 rating with a "Stable" outlook for Israeli government bonds. Moody's said that the rating and outlook were underpinned by the country's high economic, institutional and government financial strength, but that the rating is constrained by significant social and political challenges, which lead to moderate susceptibility to event risk


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