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BREAKING NEWS

Shekel weakens sharply after upheaval in Egypt

By KOBY YESHAYAHOU / GLOBES

JANUARY 31, 2011 12:34

After the upheaval in Egypt caused the Tel Aviv Stock Exchange (TASE) to drop sharply on Sunday, it is causing the shekel to weaken against the dollar and euro on Monday. The shekel-dollar rate started to rise substantially last week.

On Monday,, the shekel-dollar exchange rate rose 0.95% in early inter-bank trading to NIS 3.715/$, and the shekel-euro exchange rate rose 0.24% to NIS 5.06/€. The euro is trading at $1.3615/€ in international markets.

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