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Bethel Finance news:
The shekel is strengthening against the dollar in inter-bank trading today. The shekel-dollar exchange rate is down 0.29%, compared with Friday's representative rate, to NIS 3.81/$, and the shekel-euro exchange rate is flat at NIS 4.938/€.
Prico Risk Management CEO Vered Yitzhaki said, "Despite the weakness of the euro in international markets, Israel's good macroeconomic figures, which show better growth and unemployment figures compared with the Western world, are expected to support the shekel. We believe that the shekel-dollar exchange rate is close to its peak, and we expect it to fall below the NIS 3.80/$ level, with potential for falling to NIS 3.60/$ within a short time."
In international markets, the euro continues to weaken against the dollar, albeit more slowly, to $1.293/$. The dollar is trading at ¥76.96 against the Japanese yen.
In Israel, IBI Investment House Ltd. worries that a worsening of the crisis in Europe is liable "to raise Israel's risk premium." It predicts that the Bank of Israel will make more interest rate cuts. "The real interest rate is heading toward zero," says IBI chief economist Rafi Gozlan.
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