The shekel-dollar exchange rate is down this morning, falling 0.1% to NIS 3.885/$, while the shekel-euro exchange is falling 0.66% to NIS 5.1074/€.
The shekel-dollar rate has risen 2.3% in 2009, based on yesterday's representative exchange rate.
On global markets, the euro is trading at $1.3176, as traders wait for today's decision by European Central Bank (ECB) President Jean-Claude Trichet on the ECB interest rate. Expectations are for a cut of 0.5%. The research department at foreign exchange trading firm TRIFX said, "Trichet is one of the most knowledgeable central bank heads, and if his comments point to the ECB continuing to cut interest rates, it will lead to further weakening of the euro against the dollar. On the other hand, if the ECB, like the Bank of England, signals that it won't change rates at the next meeting, the currency can climb."
TRIFX is the Israeli representative of global foreign exchange firm FXCM.
Yesterday, the Bank of Israel set the representative shekel-dollar exchange rate 0.664% lower at NIS 3.889/$, while the representative shekel-euro exchange rate was set 1.29% lower at NIS 5.1413/€.
Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2009
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