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Interest rate effect erased: Dollar trading at NIS 4.71

Deviations increasing indicating uncertainty as regional violence colors trading

The dollar is gaining strength in options trading to reflect a rate of NIS 4.71. This represents a 0.75% gain from the representative exchange rate set Friday of NIS 4.675. The dollar opened strong at the start of trade at NIS 4.70.

The climb comes against a backdrop of escalating violence that has taken the lives of 20 Israelis in the past 24 hours. The greenback had begun to gain strength Thursday evening, trading at NIS 4.65 and continuing to NIS 4.68 during Friday¿s trading.

The volume of options trade is not high at about 7000 options in morning trading with deviations from the standard up again to about 13%. The increased deviations indicate uncertainty on the foreign exchange market.

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