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Dollar Hits Six-Month High Against Shekel Amid Global Turmoil
The dollar has reached a six-month high against the Israeli shekel, trading around 3.10 shekels, driven by global factors like U.S. inflation and stock market declines, alongside local economic shifts.
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What happened
- 01The dollar reached a six-month high against the Israeli shekel, trading at approximately 3.10 shekels.
- 02Global factors including U.S. inflation data and stock market drops are driving the dollar's rise.
- 03Institutional investors are buying dollars and selling shekels amid global market uncertainty.
- 04A potential structural shift in Israel's current account from surplus to deficit may be weakening the shekel.
- 05Companies in sectors like IT and real estate may also benefit from a stronger dollar, not just exporters.
Analysts attribute the shekel's weakness to institutional investors buying dollars amid global market turmoil and a potential structural change in Israel's current account. While exporters traditionally benefit, other sectors like IT and real estate may also see advantages from the stronger dollar.
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