BREAKING NEWS

Shekel stable amid European woes

By GUY KATSOVICH/GLOBES

FEBRUARY 14, 2012 14:40

The shekel is stable against the euro and the dollar in inter-bank trading Tuesday, amid Moody's and S&P rating cuts of Italy, Spain, and Portugal. The shekel-euro exchange rate is up 0.02%, compared with Monday's representative rate, to NIS 4.924/€. The shekel-dollar exchange rate is up 0.23% to NIS 3.726/$.

European markets fell amid gloomy news Monday: Moody's announced rating cuts for Italy, Spain, and Portugal and S&P cut the rating for 15 Spanish banks.

On Wednesday, the Central Bureau of Statistics will publish the Consumer Price Index (CPI) for January. Analysts expect a fall of 0.2% in the CPI for the month.

In global markets, the euro was trading against the dollar at $1.31/€, and the dollar was trading against the yen at ¥77.97/$.

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