The US dollar rose against the shekel today (Monday) and almost touched the 4 shekel to the dollar mark, at 3.995 shekels. That rate has not been seen since September 2012.
The euro also strengthened, up 0.15% to 4.47 shekels, the Globes financial daily reported.
Following the setting of the daily representative rate of the shekel against the major world currencies, the Bank of Israel is due to publish its decision regarding its benchmark interest rate which is expected to be unchanged at 0.25% .
Yossi Frank, CEO of NRG Finance Solutions Ltd., said:, "On Friday, the shekel-dollar rate managed to cross the psychological 4 shekels/$ barrier. There will be considerable pressure around this rate, since we have seen that there are plenty of players prepared to sell the dollar and buy shekels.
"There were also those who were waiting for the euro to continue dropping after the election in Greece, but so far that expectation has not materialized, and so it is more likely that we shall see profit taking this morning and a return below the NIS 4/$ barrier. Unless the dollar continues to strengthen on world markets, particularly against the euro, we are not likely to see a significant breakthrough above this level."
