BREAKING NEWS

Shekel weakens against dollar

By GLOBES

OCTOBER 26, 2010 11:15

The shekel was weaker against the dollar Tuesday, after the Bank of Israel left the interest rate unchanged at 2%. Keeping the rate unchanged this month was generally expected by economists.

Governor of the Bank of Israel Prof. Stanley Fischer also announced moves to make floating-rate mortgages more expensive, in a bid to restrain housing prices.

The shekel-dollar exchange rate is up 0.4% to NIS 3.6135/$, and the shekel-euro exchange rate is up 0.02% to NIS 5.0474/€.

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.599/$, 1.072% lower than the day before, and set the shekel-euro representative exchange rate at NIS 5.0465/€, 0.279% lower than the day before. The shekel-pound rate was set at NIS 5.6573/₤, down 0.911% from the day before.

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