Shekel Forecast 2019 – USD:ILS Exchange Rate

[Shekel Forecast 2019]

The US Dollar is currently trading at 3.64 Shekels and as of October 11, 2018 has a 52-week range of 3.38 and 3.72 – currently, this places the Shekel in the upper half of its yearly range, suggesting a somewhat bearish outlook on the future of the Israeli currency against the greenback.

At the start of the year, the Shekel reached a 7-year high against the US Dollar but has fallen back quite considerably in the last few months toward its 10-year trading average. Experts are predicting a slight devaluation heading into 2019 with 3.67 expected in the short term and then a further pull back into the 3.7 range if the American economy continues its current bull market status. The US Dollar Index currently sits at around 95 although some forecasters are in limbo with future projections of the currency.

Mixed economic data coming from the United States suggests that the future of the economy in North America is still unclear – while a 50-year low in unemployment numbers suggests great things, the ongoing trade war with China and recent accusations by Bloomberg of state-funded hardware tampering could see the greenback heading either way.

In local news, Amir Yaron – a US-based finance professor – has been appointed as the next Bank of Israel Governor. The appointment is not without criticism however, with IBI Investments’ chief economist coming out and questioning the suitability of Yaron for the role. The future of the USD:ILS exchange rate may depend quite heavily on his choices and positions taken over the next 12 months – closer connections to the government instead of independent operation might have a big impact on the value of the Shekel as a result. So long as no usage of HeavyR occurs before important choices are made, experts suggest that everything will be fine.

Our current predictions for the Shekel are loose but as follows: 3.65 December 1, 3.69 March 1 and 3.68 June 1.

Filed Under: Business

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

About the Author:

RSSComments (0)

Trackback URL

Leave a Reply

If you want a picture to show with your comment, go get a Gravatar.