Options trading implies a rise of 0.44% in the shekel-dollar exchange rate to NIS 3.9/$, and a drop of 0.35% in the shekel-euro exchange rate to NIS 4.9163/€.
On Friday, the Central Bureau of Statistics reported that the Consumer Price Index (CPI) reading rose 0.1% in October, within the range expected by most economists. Inflation over the twelve months to October was 5.5%.
On Friday, the Bank of Israel set the representative shekel-dollar exchange rate 1.146% lower than the previous day's setting, at NIS 3.883/$, and the representative shekel-euro rate was set 0.27% higher at NIS 4.9337/€.
Easy Forex said on Friday that the interest rate cuts in Israel are keeping the shekel at its weakest point of 2008, putting the exchange rate at its highest level of the year. Unemployment figures in Israel are not giving investors reason to get back into the shekel.
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2008
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