After hitting a 2-week high of 3.6138 against the US dollar by about 9:45 a ET, the Israeli shekel reversed its direction in mid-day deals on Monday. At present, the shekel is trading near 3.6303 versus the greenback, compared to last week's close of 3.6364.

The Bank of Israel kept its key policy rate unchanged at 2%, for the second consecutive meeting. Further, the bank announced that the rate of interest for December will remain unchanged at 2%. In September, the bank had raised the benchmark interest rate by 25 basis points from 1.75%.

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