Israeli Shekel Hits 3-Week High as Dollar Weakens on Election Day
Translated & summarized from Ynet by baba
The Israeli shekel strengthened significantly on election day, reaching a three-week high against the U.S. dollar. The dollar fell approximately 2% to trade around 3.02 shekels, while the Euro also declined. This marks a reversal of recent gains for the dollar, erasing much of its appreciation from the past month.
The story in 5 lines · by baba
- The Israeli shekel reached a three-week high against the U.S. dollar on election day.
- The U.S. dollar weakened by approximately 2% to trade around 3.02 shekels.
- The Euro also saw a significant decline, trading near 3.37 shekels.
- The dollar has lost about 3% since Friday, reversing recent gains.
- The shekel's strengthening occurred on election day in Israel.
The Israeli shekel continued its strengthening trend on election day, mirroring yesterday's performance. The U.S. dollar depreciated by approximately 2%, trading around 3.02 shekels, marking its lowest level in three weeks. The Euro saw an even steeper decline, trading near 3.37 shekels.
Cumulatively, the dollar has lost about 3% since Friday, when its representative rate stood at 3.11 shekels. The Euro weakened more significantly during the same period, falling from a rate of 3.48 shekels. This rapid depreciation has erased a substantial portion of the dollar's gains recorded over the past month.
