Shekel at weakest against dollar in over a year

• Author: Globes correspondent
• Published date: 27 April 2022
• Publication title: Globes (Rishon LeZion, Israel)

Yesterday, the Bank of Israel set the representative shekel-dollar rate up 0.030% today from Monday, at NIS 3.292/$, and the representative shekel-euro rate was set 0.425% lower at NIS 3.514/€

The shekel is at its weakest against the dollar since early April 2021, reflecting the strength of the dollar on world markets, in anticipation of continued rate hikes by the US Federal Reserve to cope with rising US inflation. The dollar is at a five year high against the euro.

The continuing Russia-Ukraine war is also strengthening the US dollar, which is seen as the world's default...