Israel's financial markets recorded a historic reversal today. According to official data released by the Bank of Israel, the US dollar has weakened sharply and fallen below the 3 shekel level, considered a psychological threshold for the first time in a long period.
Dollar weakens while euro strengthens
Based on the results of today's trading session, the following changes were observed in currency exchange rates:
• US dollar: declined 0.2%, retreating to 1 USD = 2.996 shekels. The dollar's fall below this level immediately drew the attention of investors and market participants.
• Euro: In contrast to the dollar, the euro strengthened its position against the Israeli shekel. With a 0.172% increase, it settled at 1 EUR = 3.430 shekels.
What do economic experts say?
The Bank of Israel attributes the dollar's weakness and the corresponding euro appreciation to fluctuations occurring in global financial markets. According to specialists, overall trends in international markets and shifts in investor risk appetite played a decisive role in today's exchange rate formation.