The dollar strengthens against the shekel; representative rate set at 3.191 shekels

In depth

The representative rate of the dollar strengthened against the shekel over the course of the week. The Bank of Israel published that the dollar rose 0.853% and was set at 3.1940 shekels, while the euro rose 0.532% to 3.5724 shekels. The pound sterling strengthened 0.293% to 4.2789 shekels, and the yen rose 1.05%, with the rate of 100 yen set at 2.0203 shekels.

At the start of the week the dollar traded at around 3.16 shekels, before the publication of US index data. The global dollar index rose to 103.0 points, a 19-month high. A day later the dollar rose 0.5% against a basket of the world's leading currencies, following US inflation data that were above forecasts.

Following statements by the US president, the dollar traded around 3.20 shekels, a rise of three agorot from the previous day's price, and Brent crude jumped to $94 a barrel. On Friday the dollar traded 0.2% higher above 3.20 shekels, and investors are waiting for Israeli inflation data to be published on Sunday.