Shekel stable despite lingering global woes

By GUY KATSOVITCH/GLOBES
May 10, 2012 17:06

The shekel remained stable against the dollar and euro in inter-bank trading Thursday as global woes persist due to the deepening debt crisis in Europe. The shekel-dollar exchange rate rose 0.12% Thursday morning, compared with Wednesday's representative rate, to NIS 3.82/$, and the shekel-euro exchange rate rose 0.04% to NIS 4.951/€.

On global markets the dollar was trading against the euro at $1.294/€ and against the Japanese yen at ¥79.77/$.

On Wednesday, the Bank of Israel responded to the lowering of Israel's banking outlook from "Stable" to "Negative" by Moody's, stressing that most of the factors cited by the international ratings agency are known and "have even been noted by the Bank of Israel on various occasions in the past as risk factors and challenges facing Israel's banking system."


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