Reply #38: No sign of shekel-dollar rate bottoming out [View All]

[Ghost Dog]

http://www.globes.co.il/serveen/globes/DocView.asp?did=1000212637&fid=942
The representative rate fell to 3.932 today. Manufacturers: Help us before a disaster happens.

Zeev Klein and Hadas Manor 16 May 07 18:48

The shekel-dollar exchange rate continues to slide, while the Tel Aviv Stock Exchange continues to break records. Today's representative shekel-dollar rate was set at 3.932, 1% lower than yesterday's rate, while the Tel Aviv 25 index climbed another 0.45% to an all-time high.

Despite the strength of the shekel, Governor of the Bank of Israel Stanley Fischer is expected to reduce the central bank's key rate by just 25 basis points to 3.3% for June.