Category: Shekel
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Goldman Sachs sees shekel at 3.6/$ in a year’s time
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In the last week of October, the shekel appreciated 2.5% against the US dollar, making it the best-performing emerging market currency and bucking the trend of depreciation of emerging market foreign currencies against the dollar ahead of the US presidential election, according to a report by the World Bank. Review…
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Shekel sharply stronger after attack on Iran
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Boria Finance: The dollar continues to trade in the familiar range of 3.55-3.85 shekels/dollar, but in the long term, the price of the shekel is expected to rise. The shekel was sharply stronger today after a relatively restrained Israeli attack on Iran calmed market concerns about escalation. The Bank of…
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Shekel weakens sharply on Iran escalation concerns
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Perico: There is no change in our assessment, as the possibility of the shekel’s value rising is still limited, and the dollar may once again test the level of 3.8 shekels to the dollar. The shekel is weakening sharply today against the US dollar and the euro. This afternoon, the…
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Shekel gains strongly after Sinwar’s demise
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The shekel rose strongly this morning after the Israeli army confirmed last night that it had killed Hamas leader Yahya Sinwar. In interbank transactions, the shekel-dollar price decreased by 1.40%, reaching 3.71 shekels/dollar, and the shekel-euro price decreased by 1.77%, reaching 4.023 shekels/euro. The main question in the wake of…
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UBS sets out forecasts for shekel as conflict widens
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In a survey of the Israeli economy, Swiss bank UBS notes that the economy has been in a difficult and complex situation since the Hamas attack on October 7, 2023, and sets a forecast for the shekel based on three scenarios. “GDP and the financial hit to the Israeli economy…
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Despite escalation shekel and TASE defy risk factors
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A look at macroeconomic data, which indicates how investors view Israel, can be misleading. There is a series of data indicating serious concerns on the part of investors, while there is the shekel-dollar exchange rate and the Tel Aviv Stock Exchange (TASE) that convey a feeling of relative stability, even…
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US rate cuts won’t necessarily strengthen shekel
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On the eve of the first rate cut by the US Federal Reserve since 2020 and since it began raising interest rates sharply two years ago, the gap between the interest rates on the US dollar and the shekel was 1% higher in favor of the dollar. The aggressive 0.5%…
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TASE falls, shekel weakens after explosions in Lebanon
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Lebanese Health Minister Firas Abiad announced that 2,750 Hezbollah members were seriously injured, and at least eight people were killed after the pagers they used for communication exploded. Updated on 18.40 Arab media reported that 2,750 Hezbollah members were seriously injured and at least eight people were killed after their…
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Shekel stable after week of heavy losses
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Despite its current weakness, HSBC expects the shekel to strengthen to 3.6 shekels per dollar by the end of 2024 and 3.4 shekels per dollar by the end of 2025. The shekel exchange rate stabilized today against the US dollar and the euro after a week of heavy losses. In…
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Shekel sharply weaker in wake of Wall Street falls
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The shekel is falling sharply today against the US dollar and the euro. In interbank trading late in the afternoon, the shekel rose against the dollar by 1.26% to NIS 3.717/USD, and the shekel rose against the euro by 1.35% to NIS 4.107/EUR. Yesterday, the Bank of Israel set the…
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Shekel rebounds in volatile forex market
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Head of Financial Planning Poria Or Poria: We see the shekel strengthening in the long term. After a sharp decline yesterday, the shekel is rising strongly today against the US dollar and the euro. In late morning interbank trading, the shekel fell against the dollar by 1.01% to NIS 3.685/USD,…
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Shekel opens week with strong gains
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With inflation rates rising in Israel, the Bank of Israel’s Monetary Committee is not expected to cut interest rates on Wednesday. The shekel exchange rate rose sharply today against the US dollar and the euro. In late morning interbank trading, the shekel-dollar exchange rate fell by 1.25% to NIS 3.658/dollar,…
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Shekel rebounds strongly despite continued tension
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Despite Israel remaining on edge following Iran’s vow to avenge the assassination of Hamas political leader Ismail Haniyeh in Tehran last week, the shekel made sharp gains today. The day’s gains cap a week of shekel weakness that saw the Israeli currency trade at its weakest level against the U.S.…
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Shekel depreciation accelerates – Globes
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This week’s trading in the foreign exchange market opened with further weakness for the shekel against major currencies. The shekel-dollar exchange rate is currently up 0.55% compared to Friday’s representative rate, at NIS 3.8279/dollar, and the shekel-euro rate is up 1.99%, at NIS 4.1932/euros. Last week’s trading once again demonstrated…
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Shekel weakens following Haniyeh, Shukr killings
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The shekel has weakened significantly this morning, following the killing of Hezbollah commander Fuad Shukr in an Israeli airstrike in Beirut last night, and the killing of Hamas political leader Ismail Haniyeh in Tehran in the early hours of this morning, about which Israel has remained silent. The assassination of…
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Shekel hit hard by Lebanon war worries
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The shekel fell sharply against the US dollar and the euro on Tuesday on fears of a war in the north after a Hezbollah rocket killed 12 children in Majdal Shams on Saturday. In afternoon interbank trading, the shekel was up 1.59% against the dollar at NIS 3.739/USD and 1.50%…
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Shekel weakens sharply after Nasdaq declines
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Over the past week the shekel fell by 0.6% against the US dollar, but in the past month it rose by 1.5%. The shekel is declining today against the US dollar and the euro. In afternoon interbank trading, the shekel rose against the dollar by 0.83% to NIS 3.657/USD, and…
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Gaza optimism lifts shekel to four-month strongest against dollar
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A report in the Washington Post about the possibility of a ceasefire in Gaza sent the shekel soaring and pushed the Tel Aviv Stock Exchange to near record levels. The shekel rose today against the US dollar and the euro. In late morning interbank trading, the shekel fell against the…
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Exclusive-Bank of Israel waiting for digital euro ahead of digital shekel launch By Reuters
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By Stephen Sher JERUSALEM (Reuters) – The Bank of Israel remains committed to its plans to issue a digital currency to improve Israel’s payments system and boost innovation, but it is unlikely to launch it before other advanced economies. “We are all waiting for the first Western central bank to…
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Yields on Israel gov’t shekel bonds reach 13-year high
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Growing fears of an escalation in the confrontation between Israel and Hezbollah in Lebanon have increased pressure on Israeli government bonds. Yields on long-term government bonds have risen in recent days, reflecting the increased risk that investors attribute to the state of Israel’s debt. The yield on 10-year shekel government…