BY GLOBE—
The shekel strengthened against the dollar and euro in morning inter-bank trading today after the Myra and Sarah licensees announced a 6.5 trillion cubic foot natural gas discovery – the third largest discovery in Israeli waters to date. The shekel-dollar exchange rate fell 0.51% to NIS 3.408/$ and the shekel-euro exchange rate fell 0.08% to NIS 4.942/€
In the foreign currency market, the shekel-dollar representative exchange rate fell 1.07% to NIS 3.426/$, but the shekel-euro representative exchange rate rose 0.13% to NIS 4.946/€.
In international markets, the dollar is weakening against the euro the day after the Greek Parliament approved an austerity package. The dollar is down 0.5% against the euro to $145/€, down 0.3% against the pound sterling to $1.61/₤, and down 0.5% against the Japanese yen to ¥80.382.
Published by Globes [online], Israel business news – www.globes-online.com – on June 30, 2011
Since moving to Israel just under 4 years ago (in 2007), we’ve seen the exchange rate drop from 4 shekel to the dollar to around 3.4. For the Israelis that telecommute it’s been a significant pay cut.