US Dollar Plunges Against Israeli Shekel

Against its Israeli counterpart, the US dollar traded lower during New York afternoon deals on Monday. At present, the greenback is trading near 1.7928 versus the shekel from European session's 2-week high of 3.8161. The dollar-shekel pair was worth 3.8057 at last week's close.

A report by the Central Bureau of Statistics today showed that consumer price index, or CPI rose 1.8% year-on-year in July, but slower than a 2.4% growth in the previous month. Food prices, excluding prices of vegetables and fruits, increased 1.8% in July, while the index, without housing rose 0.8%. Transport and communication charges grew 2%.

On a monthly basis, the CPI rose 0.5% in July. Similarly, food prices, excluding prices of vegetables and fruits rose 0.5%, while the index without housing increased 0.4%. Health charges were up 0.5%.

Israel's official data showed today that Gross domestic product rose 4.7% on an annual basis in the second quarter, faster than the first three months' growth rate of 3.6%. It was the fastest growth in more than two years. In the first six months of the year, the economy expanded 4.1%.

US Dollar vs ILS (FX:USDILS)
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