Nov 03, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX News Network) --

The shekel-dollar exchange rate is up 0.33 percent to NIS 3.7875/$, while the shekel-euro exchange rate is up 0.01 percent to NIS 5.5799/ae.

The current level is the highest level for the exchange rate since early September.

Merrill Lynch/Bank of America forecasts the shekel to strengthen further, with the exchange rate reaching NIS 3.35/$ by mid-2010. However, a New York-based broker at a foreign exchange trading firm said he expects that in the very near future the shekel will change its strengthening trend.

Yesterday, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.775/$, 0.774 percent higher than the day before, and set the shekel-euro representative exchange rate at NIS 5.5795/ae, 0.533 percent higher than the day before.

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