The shekel is rising despite disappointing growth data


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Despite the unexpected contraction of the Israeli economy in the first quarter and continued fighting in the south, the shekel is stronger today. The shekel is rising today against the dollar and the euro. In the afternoon between banks, the shekel exchange rate against the dollar fell 0.31% at 3.263 shekels / dollar, and the shekel against the euro fell 0.43% at 3.983 shekels / euro. Yesterday, the Bank of Israel set the representative exchange rate for the shekel in dollars, down 0.305% from Friday, at 3.2730 shekels / dollar, and the representative exchange rate between the shekel and the euro was set at 0.626%, at 3.9998 shekels / euro. Related articles The Israeli economy contracted unexpectedly at 6.5% in the first quarter. The shekel is strengthening today despite the surprising growth data yesterday from the Central Bureau of Statistics, which showed that the Israeli economy contracted by 6.5% in the first quarter of 2021. Analysts were They expect growth of 3 -4% even though the country has been in lockdown for most of this period. But Modi Shafriar, chief strategist at Mizrahi Bank, remained optimistic. “In our estimate, the contraction in the first quarter does not indicate an expected trend in the rest of the year and we expect a significant acceleration in growth in the second quarter and throughout 2021,” said Dodi Reznick, a capital markets strategist in Leumi. And Hamas is coming to an end Posted by Globes, Israel business news – en.globes.co.il – May 19, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Shekel Photo: ASAP Creative


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