Lockdown plan sends shekel reeling

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In afternoon futures buying and selling at present, the shekel was buying and selling at its weakest in opposition to the greenback in three months.


The shekel is weakening at present in opposition to the greenback and in opposition to 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 change price is up 0.75% at NIS 3.464/$ and up 0.79% in opposition to the euro at NIS 4.101/€.

Earlier at present, 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% increased at NIS 4.069/€.

On September 1 the shekel reached its strongest in opposition to the greenback since July 2008, when the consultant price was set at 3.353/$. However since then, the shekel has weakened nearly every single day, as the speed of infections in Israel has continued to rise, and it turned clear that the federal government should take motion that may hit the economic system.

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

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



Shekel Photograph: ASAP Inventive

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