The shekel is weakening against the dollar, but strengthening against the euro in inter-bank trading today, continuing yesterday's trends. The shekel-dollar exchange rate rose 0.89% to NIS 3.43/$, and the shekel-euro exchange rate fell 0.35% to NIS 4.897/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.40/$, up 0.06% on the day before, and set the shekel-euro representative exchange rate at NIS 4.915/€, down 0.13%.
In international markets, the dollar is trading at $1.435/€ against the euro and at ¥77.8/$ against the Japanese yen. The euro continues to weaken on worries that Greece's debt problems are liable to spread to other countries in the eurozone. However, the dollar is also suffering from the deadlock in negotiations between Republicans and Democrats to raise the US debt ceiling ahead of the August 2 deadline.
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