Israeli Shekel Advances Against Greenback After Rate Decision
25 May 2010 - 2:37AM
RTTF2
The Israeli shekel traded higher against the US dollar after the
announcement of Bank of Israel's interest rate decision during New
York mid-day trading on Monday. The Bank of Israel left its
benchmark interest rate unchanged for a second consecutive month
today, as the inflation rate recorded in April moved back within
the bank's target range.
During the bank's monetary policy council meeting, central bank
governor Stanley Fischer decided to keep the interest rate
unchanged at 1.5%. Fischer has raised rates by 1 percentage point
since last August.
The central bank said that the decision to keep rates unchanged
is consistent with the gradual process of returning the interest
rate to a more "normal" level.
Additionally, the Bank of Israel said the decision is intended
to position inflation firmly within the target range and to
contribute to the further recovery of economic activity while
supporting financial stability.
The shekel climbed to 3.8000 versus the greenback by about 12:20
pm ET, which may be compared to last week's closing value of
3.8350. Presently, the pair is worth 3.8150.
US Dollar vs ILS (FX:USDILS)
Forex Chart
From Jun 2024 to Jul 2024
US Dollar vs ILS (FX:USDILS)
Forex Chart
From Jul 2023 to Jul 2024
Real-Time news about United States Dollar vs Israeli New Shekel (Forex): 0 recent articles
More US News Articles