Rapidly Depreciating Shekel At 18 Mo. Low Against US Dollar
May 5, 2022 16:59:34 GMT -5
Post by shalom on May 5, 2022 16:59:34 GMT -5
RAPIDLY DEPRECIATING SHEKEL AT 18-MONTH LOW AGAINST US DOLLAR
BY DAVID SIDMAN | MAY 5, 2022 | UNCATEGORIZED
The depreciating shekel against the US dollar carries on. In inter-bank day trading, the exchange rate of the shekel rose 0.42% against the US dollar at NIS 3.366/$. It climbed 0.25% against the EUR at NIS 3.537/€, reports Globes.
On Monday, the Bank of Israel determined the shekel-dollar rate went up 1.055% from Friday to NIS 3.352/$. The representative shekel-euro rate was set at an 0.441% increase to NIS 3.528/€.
The US dollar is the strongest it has been in world markets since 2002 in lieu of the US Federal Reserve tightening monetary policies. Along with a recently announced rate hike of 0.5% by the Fed on Wednesday, the dollar is acting as a safe-haven currency while the Russia-Ukraine war continues to infect the global economy with doubt.
Since the beginning of 2022, the shekel depreciated 7.8% against the US dollar. This includes 4.4% in April. Compared to the basket of the world’s top currencies, the shekel has been 2.7% weaker since the beginning of 2022.
Continued at link
BY DAVID SIDMAN | MAY 5, 2022 | UNCATEGORIZED
The depreciating shekel against the US dollar carries on. In inter-bank day trading, the exchange rate of the shekel rose 0.42% against the US dollar at NIS 3.366/$. It climbed 0.25% against the EUR at NIS 3.537/€, reports Globes.
On Monday, the Bank of Israel determined the shekel-dollar rate went up 1.055% from Friday to NIS 3.352/$. The representative shekel-euro rate was set at an 0.441% increase to NIS 3.528/€.
The US dollar is the strongest it has been in world markets since 2002 in lieu of the US Federal Reserve tightening monetary policies. Along with a recently announced rate hike of 0.5% by the Fed on Wednesday, the dollar is acting as a safe-haven currency while the Russia-Ukraine war continues to infect the global economy with doubt.
Since the beginning of 2022, the shekel depreciated 7.8% against the US dollar. This includes 4.4% in April. Compared to the basket of the world’s top currencies, the shekel has been 2.7% weaker since the beginning of 2022.
Continued at link