Shekel gains against dollar halted as markets tumble

• Published date: 21 December 2020
• Date: 21 December 2020
• Author: Globes correspondent
• Publication title: Globes (Rishon LeZion, Israel)

The Bank of Israel set the representative shekel-dollar rate 0.123% lower on Friday, at NIS 3.241/$, and the representative shekel-euro rate was set 0.018% higher, at NIS 3.972/€.

After pushing the dollar to a new 12 year low on Friday, the shekel is weaker today against the dollar amid growing global alarm over the new more infectious Covid strain discovered in the UK. Investors are back heading for the safe haven US dollar.

In addition markets are tumbling in Europe and on the TASE with no Brexit trade deal yet achieved. The continued surge in Covid and the realization that the vaccination will provide no respite until after the winter are also dampening investor spirits. In Israel the Tel Aviv 35 Index is down...