BREAKING NEWS

Shekel weaker against dollar as Spanish fears are soothed

By GUY KATSOVICH/GLOBES

APRIL 18, 2012 11:21

The shekel was weaker against the dollar but stronger against the euro in inter-bank trading on Wednesday. The shekel-dollar exchange rate was up 0.3%, compared with Tuesday's representative rate, to $3.765/$, and the shekel-euro exchange rate was down 0.11% at NIS 4.928/€.

In international markets, the dollar is trading unchanged at $1.31/€ and is weakening against the yen at ¥81.4/$.

The main indices on Wall Street rose yesterday calming fears about the euro zone crisis spreading to Spain, which successfully sold 12 month and 18 month bonds worth €3.2 billion.

Also in the markets yesterday, the IMF raised its 2012 growth forecast for the US economy to 2.1% from 1.8%.

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