With early elections almost a certainty in Israel, the shekel continues to drop against the US dollar, reaching a two-year low. The closing Bank of Israel exchange rate on Monday 9 Kislev was $1/3.961 NIS. This is the highest the dollar has traded against the shekel since November 19, 2012. At the same time, the closing shekel euro rate at closing time Monday climbed 1% €1/4.925 NIS.
There is no doubt that if early elections are announced, it will have a profound impact on the economy, with the latter signaling a measure of instability to the international marketplace.
(YWN – Israel Desk, Jerusalem)
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3 Responses
The major factor affecting the shekel is the rising dollar, against which everyone else is falling. Note the shekel is not losing value relative to the Euro. The current economic policies will be unchanged unless the socialists or the hareidim take over the government, which is quite unlikely.
Israel has an export based economy. The strong Shekel has caused it real harm in recent years. A weaker shekel will be a blessing.
It also help many of us with our incomes in dollars.