The shekel is strengthening today against the dollar and against the euro. In early afternoon inter-bank trading, the shekel-dollar exchange rate is down 0.34% against the dollar at NIS 3.632/$ and down 0.27% against the euro at 4.198/€, Globes reports.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.496% from Monday's exchange rate at NIS 3.644/$ and set the shekel-euro rate down 0.062% at 4.209/€.
As US-China trade war fears ease slightly, the dollar has taken a breather from 11-month highs against most major currencies earlier this week.
The Israeli economy remains robust with annual GDP growth of over 4% and with annual inflation at 0.8%, near the government target of 1%-3%, there is growing confidence that the Bank of Israel will be able to raise interest rates above the historic low of 0.1% in the final quarter of the year.