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Bethel Finance news:
The shekel is strengthening slightly against both the dollar and the euro in morning inter-bank trading today. The shekel-dollar exchange rate is down 0.17%, compared with Friday's representative rate, to NIS 3.785/$, which is still far from the record NIS 3.8/$ it reached this past Thursday, the highest rate in the last 16 months.
The shekel-euro exchange rate fell by 0.24% to NIS 4.93/€.
On world markets, the dollar has strengthened 0.17% against the euro and is trading at $1.3/€.
Following the surprising fall of the CPI in November, analysts believe that the Bank of Israel will lower the interest rate. Analysts also believe that the Bank of Israel will continue lowering the interest rate due to continuing global uncertainty resulting from the European debt crisis.
Asian markets fell sharply today following the announcement that North Korea’s long-time leader Kim Jong Il has died of heart failure, and after negative sentiment in global markets: Wall Street had mixed results on Friday, and Fitch Ratings warned that European credit ratings could be affected. There is also increased anxiety in the markets due to the growing chance that France's credit rating might be lowered.
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