The Israeli shekel fell against its US counterpart on Monday as the Bank of Israel decided to slash the interest rate for October 2011 by 0.25 percent to 3 percentage points.

The shekel slipped to 3.7416 against the US dollar following the rate decision, the lowest level since September 12. On the downside, the domestic unit may find target around the 3.75 level.

US Dollar vs ILS (FX:USDILS)
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