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Shekel weakens: Representative rate 4.38/$.
(From Israel Business Arena)
Byline: Zeev Klein
The shekel depreciation has resumed following the cracks opening in the economic plan under the pressure from the protest by the single mothers. The shekel depreciation eased today, with the representative rate rising 0.39%, compared with Friday, to NIS 4.38/$. The shekel/dollar representative rate has risen 1.33% since last Thursday.
The shekel/dollar rate reached NIS 4.398 in interbank trading in the morning, but mid-month conversions by exporters and overseas companies to meet tax payments prevented a sharper shekel depreciation against the dollar. The shekel/dollar exchange rate has risen 2.3%, or …
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