Israeli Shekel Rises Against Greenback
July 19 2010 - 2:19PM
RTTF2
The Israeli shekel advanced against the US dollar in New York
trading on Monday. The shekel, which touched a low of 3.8675 versus
the greenback in early European session, soared to 3.8450 by about
9:30 am ET today. Thereafter, the shekel reversed its direction
versus the greenback and currently trading at 3.8573. The pair
closed last week's New York session at 3.8578.
Israel's unemployment rate dropped for the ninth consecutive
month in May, the Central Bureau of Statistics said today.
Meanwhile, the country's manufacturing output grew for the sixth
consecutive month in May, but at a slower pace than in the previous
month.
The jobless rate fell slightly to 6.5% in May from 6.6% in
April. In the same month a year ago, the unemployment rate was
7.8%.
At the same time, the statistical office reported that the
country's manufacturing output rose a seasonally adjusted 0.6%
month-on-month in May, slower than the 1.9% increase in April. In
May 2009, production decreased 0.3%.
In the meantime, data from the Manufacturers Association of
Israel showed that the country's industrial exports declined 2.5%
in real terms in the second quarter.
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