Bethel Finance news:
According to market estimates, the central bank bought hundreds of millions of dollars, after the shekel-dollar rate neared NIS 3.4/$.
The Bank of Israel intervened strongly in foreign exchange trading this morning. According to market estimates, the central bank bought hundreds of millions of dollars, after the shekel-dollar rate neared the psychologically significant NIS 3.4/$ level. The rate is still at its lowest since September 2008.After the Bank of Israel's intervention, the exchange rate jumped to over NIS 3.42/$, 0.2% higher than yesterday's representative rate. The shekel-euro rate is flat at around NIS 4.959/€.
Tomorrow, the Central Bureau of Statistics will publish the Consumer Prices Index reading for March. The consensus estimate is a rise of 0.1-0.3%.
Since the Bank of Israel's last interest rate hike at the end of March, the rate has fallen 3.7%.
Goldman Sachs released a review today forecasting shekel-dollar rates of 3.52 in three months, 3.35 in six months, and 3.25 in twelve months. For the shekel-euro rate, the forecast is 4.93 in three months, 4.86 in six months, and 4.88 in twelve months.
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