Shekel continues to strengthen against dollar

By GLOBES
August 31, 2011 12:58

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The shekel continued to strengthen against the dollar Tuesday, but was flat against the euro in morning inter-bank trading. The shekel-dollar exchange rate fell 0.27% to NIS 3.563/$, but the shekel-euro exchange rate edged up 0.01% to NIS 5.144/€.

Lembex Financial Group believes that, even if the Bank of Israel slows its pace of interest rate hikes, the shekel will continue to attract foreign investors, and an exchange rate of NIS 3.38/$ is therefore still possible. On the other hand, "a continuation of the global slowdown and an interest rate cut in October by the Bank of Israel would cause the shekel-dollar exchange rate to make a U-turn and send it higher," says Lembex.

In international markets, the dollar is stable against the euro, trading at $1.44/€.

Related Content

Breaking news
August 20, 2018
Britain to stop some aid for Syrian opposition in rebel-held areas

By REUTERS