Israeli Shekel Falls From 3-week High Versus Greenback

The Israeli shekel slipped from early morning session's 3-week high of 3.8453 against the US dollar during New York afternoon deals on Friday. At present, the shekel is trading near 3.8625 versus the greenback, compared to 3.8661 hit late New York Thursday.

Israel's annual consumer price inflation eased to 2.4% in June from 3% in May, official data showed.

In June, the consumer price index rose 0.3% month-on-month following a 0.4% increase in May, the Central Bureau of Statistics said. Food prices, excluding prices of vegetables and fruits, increased 1.3% year-on-year in June and was almost unchanged from the previous month.

Last month, the Bank of Israel left its benchmark interest rate unchanged at 1.5%, citing growing uncertainty in the world economy, stemming from the European debt crisis and its possible effects on the Israeli economy.

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