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Reported
Shekel Gets Stronger, No Change Expected in Prime Rate
(IsraelNN.com) Analysts expect that Bank of Israel Governor Prof. Stanley Fischer will leave the interest rate for March unchanged when he announces next week the level of borrowing costs. Exporters and Histadrut leader Ofir Eini have demanded that the rate be cut as a way to weaken the shekel, which has been the world's strongest currency against the dollar.
Fischer has said he is adamantly against using the interest rate as a means to intervene in the exchange rate, which he pointed out has benefited manufacturers by reducing the amount of shekels they have to pay for imported items. Expectations of an unchanged rate have strengthened the shekel to less than 3.6 shekels to the dollar.
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