In early afternoon inter-bank trading the shekel is weakening against the US dollar and the euro after yesterday’s decision by the Bank of Israel to keep the interest rate unchanged at 4.5%. The shekel-US dollar exchange rate is up 0.39% at NIS 3.587/$, and the shekel-euro rate is up 0.40%, at NIS 3.752/€.
Yesterday, on the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate down 0.028% from Friday, at NIS 3.566/$, and the the representative shekel-euro rate was set 0.013% higher at NIS 3.734/€.
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Poria Financial Planning chairman Or Poria said, “The shekel has weakened in recent days against the world’s leading currencies, amid growing uncertainty over the collapse of the hostage deal, and the increasing probability of renewed fighting in the south. Added to this there is speculation regarding the possibility of an attack on Iran’s nuclear facilities.”
He added, “Despite the volatility in the short term, the medium and long term estimates remain unchanged, and it is expected that the shekel will strengthen significantly against the leading currencies.”
Published by Globes, Israel business news – en.globes.co.il – on February 25, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
