The shekel strengthened against the dollar, but weakened against the euro, in morning inter-bank trading the day after the Bank of Israel keep the interest rate for August unchanged at 3.25%. The shekel-dollar exchange rate fell 0.59% to NIS 3.389/$, but the shekel-euro exchange rate rose 0.32% to NIS 4.912/€.
Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.408/$ up 0.50% on the day before, and set the shekel-euro representative exchange rate at NIS 4.896/€, up 0.16%.
In international markets, the dollar is strengthening against the euro to $1.44/€. The dollar is trading at ¥78/$ against the Japanese yen. The debt crisis in Europe continues to burden the euro, as Moody's cut Greece's debt rating by three levels to Caa1, one level above insolvency. Meanwhile, the deadlock talks to raise the US debt ceiling continues to affect the dollar.
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