Wednesday 17 February 2010

Shekel $tronger against dollar

Thanks $uckers: Israel has ‘Right to Exist’ too

Cartoon stolen from ADL
With stock markets rising, the dollar lost ground against major currencies. In Israel, foreign currency trading is in line with that trend and the shekel is stronger against the dollar.

The shekel-dollar exchange rate is down 0.27% to NIS 3.7338/$, and the shekel-euro exchange rate is up 0.63% to NIS 5.1375/€.

The shekel-dollar exchange rate continues to hover in the NIS 3.70-3.80/$ range, where it has traded since August. Yesterday, the Central Bureau of Statistics released first figures showing that Israel's Gross Domestic Product rose 4.4% in annual terms, higher than economists' expectations of around 3.5%. Despite the stronger growth, expectations are that the Bank of Israel will leave the interest rate unchanged at the end of this month, following January's sharp drop of 0.7% in the Consumer Price Index (CPI).

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.744/$, 0.213% lower than the day before, and set the shekel-euro representative exchange rate at NIS 5.1055/€, 0.1% lower than the day before.

http://www.globes.co.il/serveen/globes/docview.asp?did=1000539824&fid=942

Israel economy grows 4.4% in Q4

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