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The shekel is weakening sharply towards the greenback and euro because the exponential rise in Omicron Covid circumstances worldwide spooks the world’s inventory exchanges. In afternoon inter-bank, the shekel trade fee is up 1.23% towards the greenback at NIS 3.153/$ and up 0.78% towards the euro at NIS 3.557/€.
On Friday, the Financial institution of Israel set the consultant shekel-dollar fee up 0.290% from Thursday, at NIS 3.181/$, and the consultant shekel-euro fee was set 0.581% greater at NIS 3.529/€.
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The shekel is weakening as inventory markets decline sharply worldwide. The Tel Aviv 35 Index is presently down 1.37% at 1873.77 factors. After sturdy falls in Asia, European markets are additionally down with the FTSE 100 in London down 1.08% at 7,192.12 factors. Futures contracts level to declines on Wall Avenue later right this moment.
As normally occurs when worldwide inventory markets are in decline, Israeli institutional traders with main abroad investments promote shekels and purchase international forex to hedge their positions, thus weakening the shekel.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 20, 2021.
© Copyright of Globes Writer Itonut (1983) Ltd., 2021.
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