The shekel-dollar rate will open Monday morning around the 3.39 level, according to currency traders who are buying and selling contracts on the shekel Sunday. It has risen five percent in two trading days since Bank of Israel Governor Prof. Stanley Fischer announced the Bank is increasing purchases of dollars in an effort to keep the strong shekel from damaging exports.
The German Deutsche Bank stated Sunday that the "shekel rally has finally come to an end." However, it warned that increased inflation could force the Bank to raise the interest rate, which would strengthen the shekel by making it more attractive to investors.