Subscribe to Print Edition | Mon., May 19, 2008 Iyyar 14, 5768 | | Israel Time: 01:41 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

April inflation topples dollar By Yuval Maoz Tags: Israel The shock of the April consumer price index, which jumped 1.5% in one month, brought the dollar down over the weekend after the CPI was announced Thursday evening. Investors are expecting the high inflation will push Bank of Israel Governor Stanley Fischer to raise interest rates, thus making the currency more attractive. The dollar-shekel representative rate fell 1.8% on Friday, reaching NIS 3.362 per dollar. Advertisement The greenback fell even further in interbank trading during the day on Friday, down 2% to NIS 3.356, though it recovered slightly in the afternoon. The euro fell even more, 1.89%, to a representative rate of NIS 5.204 per euro. For the week, the dollar lost 2.9% against the shekel, and is now 11.2% lower than the shekel since the beginning of 2008. In world markets, the dollar rose on Friday against the euro by 0.4% to $1.551 per euro, which highlights the strength of the Israeli currency. The surprising April CPI, which was forecast in the 0.9% range, clearly indicates growing Israeli inflation. Bookmark to del.icio.us   Nothing to fear Nancy Pelosi in Israel: I trust all presidential candidates in regard to Israel. Bonfire drama Mount Meron grave of famed rabbi at center of ownership row between rival Sephardic and Ashkenazic trusts.

Read & React Is Israel breaking its own taboo on talks with Hamas? Responses: 74 Egypt: If Israel agrees, Gaza truce could begin tomorrow Responses: 134 Lebanon government challenges Hezbollah on weapons arsenal Responses: 72 Bush says he's hopeful for democratic reform in Middle East Responses: 58 More Headlines 00:31 Bin Laden: All Muslims must help end Gaza siege 21:22 Egypt: If Israel agrees, Gaza truce could begin tomorrow 23:50 Obama: Mideast peace deal likely if sides show compromise 21:00 Mazuz: Ruling on Olmert probe unlikely in next few weeks 22:38 MK Beilin: Abbas says he'll quit if peace deal not set in 6 months 21:24 ROSNER'S GUESTS: Amos Harel and Avi Issacharoff 21:28 Google co-founder: My family left Russia because of anti-Semitism 01:21 Herzliya buries local resident Ran Mesika, murdered in U.S. 01:30 Jerusalem police probe possible gang rape of disabled woman 19:06 Gaza cafe bombed amid crackdown on Western pop culture 18:38 Bush says he's hopeful for democratic reform in Middle East 20:41 Negev leaders: We'll force government to stop Qassam fire 21:32 Pelosi: I trust all presidential candidates in regard to Israel Previous Editions Select Day 18 may 16 may 15 may 14 may 13 may 12 may 11 may 09 may 08 may 07 may 06 may 05 may

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