ALBAWABA – Israeli shekel experienced a constant decrease recently and especially after the recent escalations in Lebanon. The shekel stabilized after a drop of 2% against the US dollar yesterday, as reported by Reuters.
Israeli shekel exchange rate
The exchange rate was recorded at 3.7280 shekels per dollar, according to Refinitiv data, after it dropped to 3.7407 shekels per dollar yesterday. Analysts said this decrease was because of the recent escalations between Israel and Lebanon earlier this week, as 12 people were killed at a football stadium in the Druze town of Majdal Shams in the Golan Heights on Saturday. Israel said the attack was carried out by Hezbollah.
Analysts said this decrease was because of the recent escalations between Israel and Lebanon earlier this week (Shutterstock)
Benjamin Netanyahu, Israeli Prime Minister said Israel will be responding in a “harsh way,” while international efforts are trying to prevent the conflict between Israel and Lebanon in the region. Furthermore, several airline companies announced suspending and/or postponing their flights to Beirut.
Joseph Freiman, CEO of the Israel's Prico Financial Group, said the ongoing escalations in the north and the local demands in the government have contributed highly in deceasing the value of the Israeli shekel. Freiman is expecting the shekel to drop more if the conflict persists in the region to at least 3.8 shekels per dollar, according to Xinhua News Agency.
