Shekel closes gap with global markets

By YAEL GRUNTMAN/GLOBES
December 6, 2010 14:13

 
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The Israeli foreign currency market was closing the gap with global markets by going against the global trend. The euro was down 0.4% against the dollar today to $1.336/$, after the euro rose strongly to $1.34/$ on Friday.

In morning inter-bank trading, the shekel-dollar exchange rate fell 0.39% to NIS 3.621/$, but the shekel-euro exchange rate rose 0.39% to NIS 4.83/€.

The Bank of Israel was scheduled Monday to publish the minutes of last month's monetary council meeting, which decided to keep the interest rate unchanged, although Governor of the Bank of Israel Prof. Stanley Fischer applied monetary tightening measures by raising the interest rate on Bank of Israel loans to commercial banks.

The euro has been strengthening in recent days due to the relative calm in the debt crisis in various Eurozone countries after Ireland approved the aid package to it and calming words by European Central Bank President Jean-Claude Trichet.

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