The Israeli New Sheqel rose today as the difference between Israel’s and the US interest rates attracted investors to the currency.
The Bank of Israel raise the key interest rate four times this, boosting the rate by 125 basis points to 3.25 percent. The last interest rates hike was on May 23, when the central bank increased the benchmark rate by quarter percentage point. The next policy meeting will be on June 27 and the bank is expected to keep the rates unchanged this time.
USD/ILS fell to 3.4125 from 3.4412 today as of 12:51 GMT after posting the intraday low of 3.4085.
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