Economy

Dollar Representative Rate Rises 0.63% as Shekel Weakens to NIS 3.025

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Dollar Representative Rate Rises 0.63% as Shekel Weakens to NIS 3.025

The Bank of Israel set Monday's dollar representative rate at NIS 3.025, up 0.63% from Friday's fixing, as the shekel weakened when foreign-exchange trading reopened. The euro's representative rate rose 0.59% to NIS 3.4573. Intraday reporting placed the dollar between roughly NIS 3.024 and NIS 3.026 amid renewed U.S.-Iran escalation, while the official fixing landed inside that range. Market analysis tied the pressure on the shekel to geopolitical tension and Israel's interest-rate path after two Bank of Israel rate reductions.

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