Shekel Slips Against Dollar, Dropping to NIS 4.678

The shekel continued to slip against the dollar Monday, as the week's trading opened in Tel Aviv.

The American currency closed at NIS 4.678, a rise of 1.015 percent.

The recent escalation of violence between Israel and the Palestinians and the ensuing uncertainty is said to be the reason behind the weakening of the shekel after a resurgence at the end of last week, as is Bank of Israel Governor David Klein's reported plans to increase the key rate of interest.