Despite the growing regional tensions, the shekel is stable today against the dollar and against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.06% against the dollar at NIS 3.516/$ and down 0.24% against the euro at NIS 4.344/€, Globes reports.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.342% from Tuesday's exchange rate at NIS 3.518/$ and set the shekel-euro rate up 0.445% at 4.354/€.
The shekel remains firm despite the regional tensions focused on Syria spilling into a potential broader with Israel clashing with Iran and the US is threatening to confront Russia. The European Organization for the Safety of Air Navigation (Eurocontrol) has already sent a warning to airlines operating flights in the Eastern Mediterranean and Middle East about an air attack in Syria in the next 72 hours. Clearly, however, if the situation escalates, then the Israeli currency can be expected to take a hit.