Shekel strengthens against dollar ahead of CPI

The shekel continued to strengthen against the dollar and euro in early inter-bank trading Tuesday. The shekel-dollar exchange rate fell 0.22 percent to NIS 3.659/$ and the shekel-euro exchange rate fell 0.05% to NIS 4.9295/€. In international markets the dollar-euro exchange rate was $1.351/€.
The Central Bureau of Statistics was set to announce the Consumer Price Index (CPI) for January at 6:30 pm Tuesday. Most analysts expected the index to fall by no more than 0.1%, or remain unchanged. The CPI for January will be first following the revision in the index's make-up, which increased the weight of the housing item (rent) from 21% to 24.3%. Analysts believe that the Bank of Israel will keep the interest rate for March unchanged at 2.25%.
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