The Israeli shekel strengthened in Monday afternoon trading, with the Bank of Israel fixing the representative dollar rate at 2.979 shekels, a drop of 0.73% that pushed the dollar back below the symbolic 3-shekel threshold. The euro fell 0.44% to a fixing of 3.399 shekels, according to data reported by N12.
The shekel strengthened on Monday, reversing some of last week's weakness. The Bank of Israel fix came mid-afternoon after the representative dollar rate crossed below the 3-shekel line again, settling at 2.979 shekels. The euro also declined, ending at 3.399 shekels.
The movement follows a volatile week for the shekel. As The Zioneer reported on Friday, June 26, the currency weakened past the 3.0-to-the-dollar mark during Friday trading, reaching 3.002 per dollar. Today's move brings the dollar back below that line, though it remains near the psychologically important level.
The data comes from the Bank of Israel's daily fixing and was reported via N12's financial channels. The backdrop of regional security tensions has kept the shekel under intermittent pressure in recent weeks, with the currency trading in a range near 3 shekels per dollar since mid-June.
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