Upheaval continues in the Forex market following the interest rate decision by the Bank of Israel yesterday.
The two main global currencies are down against the shekel by 0.6%, with the dollar at 3.761 shekels and the Euro at 4.21. On global markets, the dollar is down 0.2% against the euro.
The shekel continues to strengthen against the major currencies, while the dollar is dropping against the shekel by about 0.5% and is being traded between the banks at a rate of 3.761, the Globes financial daily is reporting.
Yesterday the dollar plummeted by 1.4%. The euro is also continuing to weaken against the Israeli currency, down by 0.6% to 4.21 shekels, after a decline of 2.6% yesterday.
The Forex market is still responding to the Bank of Israel's decision to leave its key interest rate for July unchanged at 0.1%, and particularly the comments by the Bank's Governor, Karnit Flug, at a press conference after the decision.
Flug and bank officials said they believed that interest rates will remain at the current level until the end of this year, and would rise to 1.25% by the end of 2016.
