The Bank of Israel set the representative rate Thursday at NIS 3.6390 to the dollar. The rate was below NIS 3.50 at the beginning of the week.
The exchange rate rose to NIS 3.69 in interday trading after the representative rate was set.
On Monday, the Bank of Israel said the coronavirus pandemic could cut 0.7% off GDP growth for 2020, and that Israel's economy is now forecast to grow just 2% this year.