Dollar Rises 0.3% Against Shekel to NIS 3.04 as Yen Drops

The dollar rose 0.3% against the shekel to about NIS 3.04 in local trading by 16:03, while the euro held above NIS 3.48. The Bank of Israel had earlier set the representative dollar rate at NIS 3.028, down 0.329% for the day, a fixing distinct from the later live-market quote. The dollar also gained 1.1% against the yen to 157.75 after the Bank of Japan raised its short-term policy rate from around 1.0% to 1.25%. The Japanese decision, approved 7-2, brought the rate to its highest level since 1995, according to Calcalist.