BREAKING NEWS

The shekel regains ground against the dollar

By GUY KATSOVITCH / GLOBES

MAY 19, 2011 11:14

The shekel strengthened against the dollar and euro in early inter-bank trading Thursday. The shekel-dollar exchange rate was down 0.7 percent to NIS 3.504/$ and the shekel-euro exchange rate is down 0.44% to NIS 4.999/€.

"I don’t see the curve on the dollar reaching NIS 3.60/$ or a maximum of NIS 3.65/$ in the coming months, and forget about a higher exchange rate," said Excellence Nessuah chief economist Shlomo Maoz at the "Globes"-BDO Ziv Haft Finance and Capital Market conference Wednesday.

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.529/$, up 0.26% on the day before, and set the shekel-euro representative exchange rate at NIS 5.022/€, up 0.38%.

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