The shekel continued to gain ground against the dollar this morning in inter-bank trading following the Bank of Israel's decision on Monday to raise the interest rate for June by 25 basis points to 3.25%. The shekel dollar exchange rate was down 0.99% this morning to NIS 3.465/$.
The shekel is stable this morning against the euro with the exchange rate up 0.2% to NIS 4.9234/€.
In an interview with "Reuters," Governor of the Bank of Israel Prof. Stanley Fischer said that he is not concerned about the strengthening of the shekel, because it is not harming Israeli exports. He also said that he predicted growth of 4.5-5% in Israel in 2011.
On global foreign exchange markets, the euro was 0.1% stronger against the dollar at $41.4174/€.
After sharp falls on global stock markets and the Tel Aviv Stock Exchange (TASE) in the first part of the week, rises on Wall Street and in Asia are expected to positively influence the TASE today.
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