Dollar approaches NIS 4.00, bringing relief for exporters

01.07.2012                      11.Tammus. 5772

Währung:

Dollar approaches NIS 4.00, bringing relief for exporters

Economists expect U.S. currency to reach or even exceed psychological barrier.

The U.S. dollar has hit a three-year high, reaching NIS 3.947 on Wednesday and closing the week a bit lower at NIS 3.923.
The rise in the dollar's value against the shekel in recent months is primarily the result of the greenback's increased strength in the international currency market, and of local developments such as last Monday's announcement by the Bank of Israel that it was reducing the interest rate for July, and Prime Minister Benjamin Netanyahu's decision to raise next year's budget deficit target from from 1.5 percent of gross domestic product to three percent….