Shekel weakens against dollar after rate hike

By INBAL OMER/ GLOBES
February 22, 2011 12:24

 
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The shekel weakened against the dollar on Tuesday, but strengthened against the euro in morning inter-bank trading, the day after the Bank of Israel raised the interest rate.

The shekel-dollar exchange rate rose 0.71 percent to NIS 3.627/$, but the shekel-euro exchange rate fell 0.2% to NIS 4.913/€.

Governor of the Bank of Israel Stanley Fischer raised the interest rate by 25 basis points to 2.5% on Monday.

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