Israeli Shekel Fluctuates Sharply on Election Day
Translated & summarized from NEWSru Israel by baba
The Israeli shekel initially strengthened against the dollar and euro on election day, October 27, before reversing sharply as results came in. By Wednesday morning, October 28, the dollar had risen about 2% from its low, nearing Monday's official rate, with the euro also approaching its previous level.
The story in 4 lines · by baba
- The Israeli shekel strengthened against the dollar and euro on election day, October 27.
- The trend reversed significantly after exit polls and vote count results were released.
- By Wednesday morning, October 28, the dollar had risen approximately 2% from its Tuesday low.
- The dollar and euro returned close to their official rates from Monday, October 26.
On Tuesday, October 27, the day of the Knesset elections, the Israeli shekel experienced significant strengthening against the US dollar and the euro. The dollar fell to 3.02 shekels and the euro to 3.37 shekels.
However, this trend reversed sharply after the publication of exit polls and, even more so, as actual vote count results became available. By Wednesday morning, October 28, the dollar was trading around 3.08 shekels and the euro around 3.43 shekels.
This means the dollar appreciated by approximately 2% from its Tuesday low, returning almost precisely to Monday's official rate of 3.078 shekels. The euro also neared its Monday official rate of 3.4462 shekels.
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