The Israeli new shekel fell today as the central bank was buying dollars to keep currency’s appreciation in check. The shekel was already weakening on the previous actions of the bank.
Israeli New Shekel ILS
Detailed information and fundamental factors
Central Bank: Bank of Israel
Interest Rate: 1.25%
Public Debt to GDP Ratio, 2011: 72.8%
Trade Balance, 2011: -$9.08 bln.
Inflation, 2011: 3.5%
Factors of Weakness
Political and domestic instability
weak
The Israel new shekel is the official currency of the State of Israel. It was introduced in 1986, replacing the old currency. The currency is not produced in Israel itself. Coins are produced in South Korea, while banknotes are printed in Switzerland. The Israel currencies were historically weak, but the new currency profited from the growing nation’s economy and the careful fiscal and monetary policy. As a result, the shekel has appreciated about 20 percent against the US dollar in the first decade of 21st century. The currency has been available for free exchange since 2003 and for derivative trading on the CME since 2006.
Israeli New Shekel News Archive
Bank of Israel Surprises Again, Shekel Weakens
May 27th, 2013 at 17:42
Israeli New Shekel
The Bank of Israel surprised Forex market participants for the second time this month, cutting interest rates yet again on today’s meeting. The Israeli new shekel weakened after the decision.
Israeli New Shekel Mixed After Bank of Israel Cuts Interest Rates
May 14th, 2013 at 1:48
Israeli New Shekel
The Bank of Israel made an unexpected move yesterday, cutting its benchmark interest rate. The Israeli new shekel dropped versus the euro today, but rose against the US dollar.
Bank of Israel Leaves Rates Unchanged, Shekel Flat
February 26th, 2013 at 19:09
Israeli New Shekel
The Israeli new shekel was little changed today after Bank of Israel left interest rates unchanged yesterday. The currency may yet decline on speculation that the central bank will cut the rate in the near future.
Shekel Gains on Monetary Policy Outlook, Retreats
August 24th, 2012 at 4:56
Israeli New Shekel
The Israeli new shekel weakened a little today against the US dollar. Earlier, the currency gained on hopes that central banks would spur economic growth, while the central bank of Israel itself would keep its monetary policy unchanged. The currency rose versus the euro.
Shekel Rebounds as Central Bank Holds Interest Rates
December 27th, 2011 at 12:19
Israeli New Shekel
The Israeli new shekel rebounded today after earlier drop versus the US dollar as the nation’s central bank maintained its key interest rate and predicted that the country’s economy will expand next year.
Sheqel Gains on Interest Rates Swaps
June 21st, 2011 at 12:52
Israeli New Shekel
The Israeli New Sheqel rose today as the difference between Israel’s and the US interest rates attracted investors to the currency.
Israel’s Sheqel Falls on Dollar Purchase Speculations
August 04th, 2009 at 23:21
Israeli New Shekel
The Israeli currency had the sharpest fall in 4 months today as the government is likely to increase a dollar purchasing program to stimulate the national currency.
