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Shekel opens weaker

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midastouch017   Monday, 11/05/07 04:01:16 AM
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Shekel opens weaker
Both the shekel-dollar and shekel-euro rates have risen slightly in inter-bank trading this morning.
Globes correspondent 5 Nov 07 09:50
The weakness of the dollar on international money markets has not bypassed the local market, and for several days now the shekel-dollar exchange rate has sunk further and further below 4.0/$. The morning, the trend has reversed slightly, with the rate in inter-bank trading currently at 3.9735/$, 0.11% higher than the representative rate set on Friday.
Trading in shekel-dollar options yesterday indicated a 0.4% fall in the shekel-dollar rate. Last week, the rate fell 0.57%.

In the past two months, the interest rate gap between the dollar and the shekel has narrowed from 1.5% to 0.5%. The shekel-dollar rate has fallen 3.9% in that time, and 8.6% since the beginning of August.

The shekel-euro rate has risen 0.18% this morning, to 5.7573€.

Published by Globes [online], Israel business news - www.globes.co.il - on November 5, 2007

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