Financial institution Leumi: With the hope that uncertainty will subside, the basic forces, corresponding to the present account surplus, proceed to help the appreciation of the shekel.
The shekel is strengthening sharply in the present day in opposition to the US greenback and in opposition to the euro. In afternoon inter-bank buying and selling the shekel-US greenback trade price is down 0.82%, NIS 3.566/$, and the shekel-euro price is down 0.98%, at NIS 3.767/€.
On Friday, the Financial institution of Israel set the consultant shekel-dollar price 0.222% decrease, at NIS 3.595/$, and the consultant shekel-euro price was set 0.301% greater, at NIS 3.804/€.
Financial institution Leumi head of markets technique Kobby Levi mentioned, “The shekel continues to strengthen in opposition to the greenback and the euro. Its strengthening started after the ceasefire settlement with Hezbollah, supported by elevated international foreign money gross sales by the native monetary sector, whereas then again, the quantity of purchases seems to be moderating across the present price. In our evaluation, regardless of the current enchancment in sentiment, the political developments in Syria are rising uncertainty within the area, and will change sentiment for the more severe. In the long run over the approaching 12 months, and with the hope that uncertainty will subside, the basic forces, corresponding to the present account surplus, proceed to help the appreciation of the shekel.”
The Israel-Lebanon ceasefire settlement has boosted the shekel, which is at its strongest for over 4 months in opposition to the US greenback and its strongest for 20 months in opposition to the euro.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 9, 2024
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