Israeli Shekel At 8-day Low Against U.S. Dollar
24 Febbraio 2015 - 7:47AM
RTTF2
The Israeli Shekel extended decline against the U.S. dollar on
Tuesday, following the Bank of Israel's surprise effort to cut
rates to record low yesterday, in its attempt to prevent currency
appreciation and low inflation.
Israel's central bank cut its base lending rate to 0.1 percent,
from its already record low of 0.25 percent. The rate cut will be
effective on Thursday.
"The monetary committee is of the opinion that, in view of the
increased rate of appreciation and its possible effects on activity
and inflation, reducing the interest rate to 0.1% is the most
appropriate step at this time," the central bank said in a
statement.
The Israeli Shekel slipped to 3.9182 per greenback, its lowest
since February 16. On the downside, 3.95 is seen as the Israeli
Shekel's next support level. The pair finished yesterday's trading
at 3.9098.
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