The shekel-dollar rate has moved above NIS 3.50/$ for the first time since February 21, Globes reports.
The shekel is weakening today against the dollar and strengthening against the euro. In afternoon inter-bank trading the shekel-dollar exchange rate is up 0.21% against the dollar at NIS 3.507/$ and down 0.35% against the euro at NIS 4.322/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.344% from Tuesday's exchange rate at NIS 3.499/$ and set the shekel-euro rate up 0.247% at 4.337/€.
The dollar is strong on world markets as fears of a trade war recede and it has pushed the shekel above the key NIS 3.50/$ for the first time since February 21. At the same time the euro is weaker on the continuing reluctance of the European Central Bank to change its expansionist policies.