Lockdown plan sends shekel reeling

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In afternoon futures buying and selling right now, the shekel was buying and selling at its weakest towards the greenback in three months.


The shekel is weakening right now towards the greenback and towards the euro after the coronavirus cupboard introduced a three-stage plan final night time to halt the unfold of Covid-19, which features a two-week lockdown. In afternoon inter-bank buying and selling the shekel-dollar alternate price is up 0.75% at NIS 3.464/$ and up 0.79% towards the euro at NIS 4.101/€.

Earlier right now, the Financial institution of Israel set the shekel 0.703% up from Thursday at NIS 3.438/$, and the consultant shekel-euro price was set 0.715% larger at NIS 4.069/€.

On September 1 the shekel reached its strongest towards the greenback since July 2008, when the consultant price was set at 3.353/$. However since then, the shekel has weakened nearly on daily basis, as the speed of infections in Israel has continued to rise, and it grew to become clear that the federal government should take motion that can hit the financial system.

Earlier this week, the Financial institution of Israel reported that it had purchased $2.5 billion in international foreign money final month in its useless makes an attempt to weaken the shekel and hold the speed above NIS 3.40/$. Covid-19 has now succeeded the place international foreign money purchases failed.

en.globes.co.il – on September 11, 2020 © Copyright of Globes Writer Itonut (1983) Ltd. 2020



Shekel Picture: ASAP Artistic

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