The shekel-US dollar rate has climbed above NIS 3.7/$, while the falls on the stock exchange are being led by the banks.
The main indices on the Tel Aviv Stock Exchange fell this morning, continuing the decline that set in yesterday afternoon after the Knesset passed the controversial law abolishing the reasonableness test in judicial review of decisions by elected officials and the government. The Tel Aviv 35 Index is currently down 1.13% at 1839.75, after falling 2.21% yesterday. The Real Estate Index is down 2.28%. The Banking Index is down 2.3%, after tumbling 4% yesterday. Today’s four leading stocks are all banks: Leumi, Hapoalim, Discount,, and Mizrahi Tefahot are all down by about 2.8%. The fifth most heavily traded stock, Teva, is actually up by 0.89%.
The shekel has weakened considerably this morning. The rate against the US dollar is up 2.49% in comparison with yesterday’s representative rate, at NIS 3.71/$, while the shekel-euro rate is up 2.13%, at NIS 4.1041.
Published by Globes, Israel business news - en.globes.co.il - on July 25, 2023.
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