www.bethelfinance.com
The shekel was weakening in inter-bank trading this afternoon as the crisis in the euro bloc showed no signs of abating. The shekel dollar exchange rate was up 0.36% at NIS 3.775/$ and the shekel euro exchange rate was up 0.3% against the euro at NIS 5.05/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.761/$, up 0.78% on the day before, and set the shekel-euro representative exchange rate at NIS 5.035/€, down 0.43%.
Foreign currency investors will again be reacting today to developments in Europe, where the Belgian and French governments are at loggerheads over the bailout package to save Dexia Bank.
In Israel, the Bank of Israel yesterday published the Composite State-of-the- Economy Index, which rose by 0.1% in October from the previous month. The Bank of Israel said that economic activity in the Israeli economy is continuing to expand but at a more moderate pace than previously.
On global markets, the dollar strengthened against the euro to $1.33/€, and the US currency was also gaining against the yen at $77.17/¥.
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