The shekel strengthened against the dollar and euro in morning inter-bank trading today, after the Central Bureau of Statistics yesterday announced that Israel's GDP grew by an annualized rate of 4.7% in the first quarter of 2011. The shekel-dollar exchange rate is down 0.51% to NIS 3.521/$ and the shekel-euro exchange rate is down 0.11% to NIS 4.99/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.538/$, 1.52% higher than the day before, and set the shekel-euro representative exchange rate at NIS 4.995/€, up 0.10%.
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