Shekel reaches highest value against dollar since 2014

The Globes business journal reports that the Bank of Israel may soon intervene to weaken the shekel as it reaches its highest point relative to the dollar since September 2014, at NIS 3.593 to the dollar.

Globes reports:

The dollar has been falling in value worldwide due to the political problems faced by [US] President Donald Trump. The shekel remains strong despite disappointing growth figures for the first quarter published last week by the Central Bureau of Statistics, which showed the Israeli economy growing at an annual rate of just 1.4%.

When foreign currency trading resumes tomorrow all eyes will be on the Bank of Israel, which over the past few months has intervened in trading to buy foreign currency every time the shekel-dollar exchange rate goes below NIS 3.60/$.

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