Shekel gains ahead of Trump's Iran deal decision
By Trend
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 0.72% against the dollar at NIS 3.599/$ and down 0.75% against the euro at 4.282/€, Globes reports.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.083% from Friday's rate at NIS 3.625/$ and set the shekel-euro rate down 0.498% at 4.315/€.
The Israeli currency is strengthening today despite heightened regional tensions ahead of US President Donald Trump's announcement tonight on whether he is going to cancel the nuclear agreement with Iran. The US currency is strong on world forex markets and yesterday the dollar index hit a four month high.
Meanwhile the Bank of Israel announced yesterday that it only bought $26 million in foreign currency in April. Even without a "helping hand" from the Bank of Israel, the shekel weakened from NIS 3.518/$ to NIS 3.588/$ during the month.
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