Dollar Drops to NIS 4.22

The shekel strengthened against the dollar Monday, trading at NIS 4.22 per dollar. The International Bank said that the shekels strengthened because of the interest gap between the two currencies.

Drops are recorded Monday afternoon at the Tel Aviv Stock Exchange. The Maof dropped 1.2 percent to 398 points. Discount Investments plunged 6 percent following a profit warning released Sunday.