Shekel-Dollar Rate Sinks after Interest Rate Left Unchanged

The shekel-dollar rate plummeted to 3.92 Thursday afternoon after the Bank of Israel announced it is leaving the interest rate unchanged next month.

Before the announcement, the local currency traded above 3.95 shekels to the dollar on speculation that Bank would cut the rate which already is at a historic low of 0.1 percent.

The last time the shekel traded above the 3.94 level was in April, when it briefly crossed the 4.00 shekel level.