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 0.40% against the dollar at NIS 3.578/$ and down 0.58% against the euro at 4.187/€, Globes reports.
Yesterday, the Bank of Israel set the shekel-dollar representative rate down 0.558% from Monday's exchange rate at NIS 3.564/$ and set the shekel-euro rate up 0.033% at 4.212/€.
After gaining against the dollar for much of the past week, the US currency is pushing the shekel back today reflecting its strength on world markets where it is gaining against all the major currencies except the Japanese yen. The euro is weakening on world markets including against the shekel. All eyes are on the minutes of the US Federal Reserve meeting earlier this month, which might give some insights on when the next US interest rate hike might be expected.