The shekel is weakening at Tuesday mid-day after surging on Monday, after the market learned yesterday afternoon that consumer prices had flouted expectations and surged 1.3% in June.

The dollar is trading at NIS 4.695, 0.5% above its representative rate of Monday, when it had been dragged down in world markets, leading the euro to parity for the first time.

Dealers say trade is quiet.

Market expectations are that the Bank of Israel will not change interest rates for August, and that Governor David Klein will leave the nominal lending rate on central bank sources at 9.1%.