Bethlehem Ma’an – Observers expect the dollar to cross the 4 shekel threshold, in the event of a wide-scale conflict in the region, in addition to financial fluctuations in world markets.
Amid market turmoil and security tensions in Israel, the Tel Aviv Stock Exchange opened down nearly 3%, and the foreign exchange trading week opened with another decline in the shekel, trading around 3.83 shekels, and the euro is approaching 4.2 in the last 10 days, and the local currency has lost about 5% of its value.
The expected offensive response by Iran and its allies, and if Israel responds, and the war expands, will certainly lead to the dollar exceeding the 4 shekel mark, and the euro may reach about 4.30 shekels.
If the security escalation is delayed, we will actually see some compensation in the rise in foreign currency prices due to the shekel marathon by exporters and manufacturers every month to pay salaries and bills to suppliers in shekels, according to Yedioth Ahronoth.
After the Israeli currency weakene
d last week, the dollar and the euro rose this morning. The euro jumped 1.5% against the shekel and is trading near 4.2 shekels, and the dollar, which weakened against other currencies in the world after weak US economic data published over the weekend, is also rising against the shekel, but at a lower rate of 0.3%, to trade this morning at 3.83 shekels.
In just 10 days, the shekel has lost about 5% of its value. On July 25, its representative rate was 3.65 shekels, and this morning, it is trading at about 3.82 shekels.
Source: Maan News Agency