After the announcement of yesterday by US President Donald Trump on a tariff for the import of the United States, the Forex market is volatile today. In the afternoon, the bank’s trading is strengthening a shekel against the US dollar and weakened sharply against the euro. The SHEKEL-Us exchange rate in dollars decreased by 0.19 % at 3.702/$ NIS, and the Shekel-Euro rate increases by 1.95 %, at 4.093/€ NIS. Shekel is weakened against the euro in five months.
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Yesterday, the Bank of Israel set the HEKEL-DOLLAR representative rate of 0.162 % from Tuesday, at 3.699 NIS/$, and the Shekel-Euro rate is 0.08 % at 3.992/€.
Why is shekels sharply weakened against the euro?
The euro interacts with a sharp gain against the Israeli currency. The reason for this is the effects of different exchange rate changes. Shekel is not traded directly against the euro, but it is transferred at the rate of dollar shekel and then by the dollar. Thus, when the dollar decreases sharply against the European Union currency. Israel also sees the effects of reducing the value of the currency. In fact, the biggest beneficiary of global chaos is the euro. The European dollar rate was $ 1.09 per euro, which is the lowest dollar since October. Reuters noted that the euro is strengthening because it seems that Europe looks more than the inside, “the Europeans continue to study how the economy stabilizes and continues to grow and does not deal with mutual tariffs. The market loves the calm and stable approach on the continent.”
We look forward
The question that it now asks is what will happen after the global storm calms down, and how heavy definitions will affect the global economy. Bank Hapoalim, the chief financial market, notes that many depend on future developments. “There is a fear that Europe and other countries will impose mutual tariffs on the United States. In contrast, countries like Israel likely to reduce its taxes on the United States will reduce.” Cheving asserts that the current situation is not healthy for the global economy and increases the levels of uncertainty in the world. Meanwhile, investors flee safer investments. Gold is traded at standard levels of more than $ 3100 an ounce. Also, during the past 24 hours, government bond returns have decreased sharply, while investors turn into risk -free assets.
It was published by Globes, Israel Business News – En.globes.co.il – on April 4, 2025.
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