Dollar rises to 3.64 shekels – up by 2 percent.

This dollar strengthened by 2 percent to 3.64 shekels Tuesday the day after Israel’s central bank cut interest by a quarter percent to the 1.5 percent level in a bid to curb the sliding dollar. Bank analysts foresee further pressure on the dollar from rising revenues from Israel’s Mediterranean gas deposits. The bank therefore plans to purchase $2.1 billion in the course of 2013.

 

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