Even though a bill that could affect the independence of the Bank of Israel has been suspended, investors seem to remain wary on the Israeli coin. That has led to the shekel weakening sharply against the dollar and against the euro. In afternoon inter-bank trading, the shekel-dollar exchange rate is up 1.11% at 3.678/$ and the shekel-euro rate is up 1.17% at NIS 4.028/€.
Yesterday, the Bank of Israel set the representative shekel-dollar rate 0.359% higher from Monday, at NIS 3.638/$, and the representative shekel-euro rate was set 0.734% higher at NIS 3.982/€.
The shekel began depreciating yesterday after Bank of Israel Governor Prof. Amir Yaron sent a sharply worded letter to PM Netanyahu, expressing his resolute opposition to proposed legislation requiring banks to pay interest on consumer current accounts.
Source: en.globes.co.il
Photo source: Dreamstime.com
