The Israeli new shekel was little changed today after Bank of Israel left interest rates unchanged yesterday. The currency may yet decline on speculation that the central bank will cut the rate in the near future.
The BoI kept the main interest rate at 1.75 percent. The bank said that the shekel had gained about 0.25 percent versus the dollar during February. Forex market participants are worried that the bank may act to weaken the shekel if the currency stays strong.
USD/ILS traded at 3.7315 as of 19:09 GMT today after opening at 3.7332.
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