The shekel continues to grow stronger against all currencies, especially against the dollar.
In foreign currency trading today (Tuesday), the dollar weakened by 0.387% and its representative rate was set at NIS 3.09 - the lowest since March 1996.
Also last week, the dollar fell below 3.09, but the Bank of Israel set its representative rate at NIS 3.10. The euro has also been at a low in recent days, and today at the close of trading its price was set at NIS 3.51.
It will be recalled that about two weeks ago, the Bank of Israel announced that it had completed the acquisition of $ 30 billion during the Corona period.
In the past, the Bank of Israel purchased dollars to weaken the shekel, but this time it seems that this step will not be enough to change the balance sheet.