Shekel Resumes Depreciation Against Dollar


shekelThe dollar has strengthened against the world’s major currencies for the past 7 consecutive weeks.

The shekel is weakening against the US dollar following the latest strong US employment figures, and is stable against the euro in futures trading this morning. This ends the Israeli currency’s brief rebound last Wednesday and Thursday.

The shekel is trading up 0.93% against the dollar at NIS 3.678/$ and up 0.01% against the euro at NIS 4.607/€.

On Thursday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.644/$, down 0.76% on Wednesday’s rate, and set the shekel-euro representative exchange rate at NIS 4.607/€, down 0.38%.

Bloomberg’s dollar index shows that the US currency (against the world’s leading 10 currencies) has risen for the past seven consecutive weeks, the highest continuous rise since June 2010. This is based on growing assumptions that the US Federal Reserve will start raising interest rates in 2015.


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