Tivuch Ida

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Shekel Jumps versus dollar

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By Steven Scheer

The shekel strengthened by 1.2 percent against the dollar on Tuesday in what might be the start of a correction after the greenback failed to break through the NIS 4 level.

The shekel had shed 2.5%in the past week following the collapse of the governing coalition after just 20 months and the setting of a new election in March.

It has lost about 16% of its value versus the dollar since July, depressed by a combination of weakening Israeli growth, interest-rate cuts and general dollar strength.

“The [ exchange rate] has moved a long way in a short period of time,” said a dealer at a large Israeli bank. “Dollar-shekel was overbought, and fundamentals agree it was over bought, so we are having a correction.”

The Bank of Israel fixed the shekel at 3.9440 per dollar – its most robust level since December 1 – from 3.9910 on Monday. After the fixing, it gained to 3.926

Dealers said the dollar, which surged from below NIS 3.4 in July to touch a 27 – month high on Monday, had tried but failed to break above the NIS 4 level.The dollar has not been worth more than NIS 4 since September 2012.

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Author: Ida Real Estate

I have dealt with people starting from my teen years whether it was a junior counselor position, volunteering in community centers for the elderly, working as a secretary and as a real estate agent. Dealing with the public is a learning experience and challenging. Someone once told me that a person can learn from every being they meet whether it be a child or a stranger they met for 2 minutes. This I hold true. I have met so many people and have learned a lot and keep learning. My father who ran his own business made it a point to provide good service to all his customers no matter how small the customer. I hope to offer quality, honesty, and result in happy customers whether they are sellers, buyers, or renters.

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