Shekel slides amid political chaos

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative

The Israeli currency has been hit by political uncertainty following the resignation of Minister of Defense Avigdor Liberman.

The shekel is weakening today against the dollar and against the euro following the resignation of Minister of Defense Avigdor Liberman. In early afternoon inter-bank trading, the shekel-dollar exchange rate is up 0.25% against the dollar at NIS 3.698/$ and up 0.36% against the euro at 4.165/€.

Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.354% at NIS 3.689/$ from Monday's rate and set the shekel-euro rate up 0.188% at 4.151/€.

The shekel fell yesterday in the wake of the rocket attacks on southern Israel by Hamas militants in the Gaza strip. But after the conclusion of a ceasefire with Hamas, the Israeli currency has been hit by political uncertainty following the resignation of Minister of Defense Avigdor Liberman, who said that Netanyahu had surrendered to terrorism and called for new Knesset elections.

On world markets, the US currency has slipped from16-month highs with the euro and sterling stronger after UK Prime Minister Theresa May announced that a Brexit agreement had been reached with EU officials.

Published by Globes, Israel business news - en.globes.co.il - on November 14, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Shekel Photo: ASAP Creative
Shekel Photo: ASAP Creative
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