Shekel weakens on Gaza escalation

Shekel  / Photo: Shutterstock

Shekel exchange rates against the US dollar and the euro have risen; trading on the Tel Aviv Stock Exchange is fairly stable.

The foreign exchange market was volatile at the opening this morning, against the background of the worsening of the security situation after the IDF killed a senior Islamic Jihad commander in Gaza last night and Islamic Jihad responded with rocket attacks on Israel. The shekel-dollar jumped 0.5% to NIS 3.516/$ at the start of trading. It has since fallen back a little, and is now 0.34% above yesterday's representative rate, at NIS 3.5110/$. The shekel-euro rate is up 0.33%, at NIS 3.8725/€.

Trading on the Tel Aviv Stock Exchange is fairly stable. The Tel Aviv 25 Index is currently down 0.18%, at 1,657.28 points. Bezeq is up 0.74% after the minister of communications gave approval yesterday for the takeover of Bezeq parent company B Communications by Searchlight Capital Partners and the Fuhrer family. Israel Chemical sis up 1.89%; Migdal is down 2.4%; and Cellcom is down 2%.

Published by Globes, Israel business news - en.globes.co.il - on November 12, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Shekel  / Photo: Shutterstock
Shekel / Photo: Shutterstock
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