The shekel was rising today against the dollar and the euro. In inter-bank transactions this afternoon, the shekel exchange rate against the dollar decreased by 0.41%, at 3.646 / dollar, and the shekel price against the euro decreased by 0.90%, at 3.952 shekels / euro.
Yesterday, the Bank of Israel set the representative rate of the shekel against the dollar at 0.356% from Monday, at 3.661 shekels / dollar, and the representative exchange rate between the shekel and the euro was set at 0.552%, at 3.987 shekels / euro.
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Next Monday, the Monetary Committee of the Bank of Israel, headed by Governor Prof. Amir Yaron, is expected to announce its tenth interest rate hike in just over a year, bringing the interest rate from 4.5% to 4.75%. Any lingering doubts that the Bank of Israel could leave the rate unchanged were dispelled by the much higher-than-expected April Consumer Price Index (CPI) of 0.8%. This means that the annual inflation rate in Israel remains at 5%, higher than in the United States, as the Bank of Israel struggles to tame inflation.
Published by Globes, Israel business news – en.globes.co.il – on May 17, 2023.
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