developing· Economy· Updated
Israeli Markets React Mixedly to PM Netanyahu's Crypto Remarks
Israeli markets fell on the first trading day after Prime Minister Benjamin Netanyahu said Israel should prepare to use cryptocurrency to bypass sanctions. The Tel Aviv Stock Exchange and key indices opened lower in early trading in response to the remarks.
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What happened
- 01Israeli stocks fell on the first trading day after Prime Minister Benjamin Netanyahu suggested using cryptocurrency to bypass sanctions.
- 02Ynetnews reported that the Tel Aviv 35 fell 0.46%, the TA 125 0.45%, and the TA 90 0.57%.
- 03Behadrei Haredim said the Tel Aviv Stock Exchange first dipped and then rose 0.5% within half an hour.
- 04Netanyahu said in a Friday interview that he had ordered preparations for alternative payment methods, including cryptocurrencies, if restrictions hit the financial system.
- 05A market expert quoted by Maariv said bank stocks, the shekel and bonds will show whether investors are taking the remarks seriously.
- 06Behadrei Haredim reported that more than 100 economists, business figures and former officials warned about possible sanctions on the banking system.
- 07The dollar traded around 3.1115 shekels and the euro around 3.4870 shekels, close to their representative rates.
By late morning, the Tel Aviv 35 had fallen 0.46%, the TA 125 0.45%, and the TA 90 0.57%, according to Ynetnews. Behadrei Haredim said the market first dipped and then rose 0.5% within half an hour, while the dollar and euro also moved slightly before easing back.
The remarks came in a Friday interview in which Netanyahu said he had instructed preparations for alternative payment methods, including cryptocurrencies, if economic restrictions are imposed on the financial system. A market expert cited by Maariv said banks, the shekel and bonds would show whether investors think the statement matters and whether they are pricing in Netanyahu remaining in power after the election.
Behadrei Haredim also reported that more than 100 economists, business figures and former public service officials signed a letter warning of possible sanctions on the banking system. Currency trading remained close to representative rates, with the dollar around 3.1115 shekels and the euro around 3.4870 shekels.
Summarized by baba from the reports of 3 newsrooms. Updated
Latest report: Behadrei Haredim. Read Behadrei Haredim’s originalThe coverage
3 newsrooms on this story
Who covered it
- LeftNone
- Centre2
- RightNone
- Haredi1
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