The Shekel Continues to Appreciate
Since the beginning of the year, Israel’s currency roseby 6.6% compared to the U.S. dollar
Shir Reiter | 13:10 07.11.2019
The shekel continued to appreciate on Wednesday, with the U.S. dollar dropping 0.3% and its exchange rate set at NIS 3.49. The euro weakened by 0.5% and its exchange rate was set at NIS 3.87. On Tuesday, the dollar dropped by 0.6% compared to the Shekel while the euro fell by 1.1%. The shekel’s appreciation trend is not new, Alex Zabezhinsky, the head economist of Israel-based investment house Meitav Dash Investments Ltd., told Calcalist Tuesday. Since the beginning of the year, the shekel increased by 6.6% compared to the dollar, he said, adding that after a brief depreciating period the trend has resumed.