Israel Currency Discussion Board

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Shekel-dollar rate dips below 4
The last time the rate fell below the NIS 4/$ level was on May 24.
Michal Yoshai 1 Oct 07 09:25
The shekel-dollar rate has fallen below NIS 4/$ this morning for the first time since May 24, when the closing representative rate was set at NIS 3.999/$. Trading in foreign currency options yesterday reflected a 0.3% fall in the shekel-dollar rate compared with the representative rate last Friday.
The weakness of the dollar against the shekel is in line with the global trend as it continues to fall against other leading currencies. The dollar's fall amid the recent crisis in the US sub-prime market was compounded further two weeks ago by the interest rate cut by the US Federal Reserve Board.

Published by Globes [online], Israel business news - www.globes.co.il - on October 1, 2007