Shekel sharply weakens in thin holiday trading

The shekel has been weakening today against the world’s major currencies in volatile trading. This afternoon the Bank of Israel set the shekel-dollar exchange rate up 0.913% at NIS 3.794/$ and set the shekel-euro rate 1.192% higher at NIS 4.066/€. In late afternoon inter-bank trading the shekel weakened by a further 0.2% to NIS 3.801/$.

Bank Hapoalim chief strategist Modi Shafrir told “Globes” that foreign exchange trading is very volatile due to the low trading volumes during the holiday so that every small fluctuation in the exchange rates strongly affects…