Shekel rebounds on volatile forex market

In the afternoon, the bank that strengthens a shekel was trading against the US dollar and the euro. The SHEKEL-Us exchange rate in dollars decreased by 0.49 % at 3.696/$, and the Shekel-Euro rate decreased by 0.59 %, at 3.996/€.

On Friday, the Bank of Israel set a representative rate of Sheika, an increase of 0.708 % against the US dollar at 3.697/$, and the Chic Irical rate was set by 0.580 %, at 4.004/€.

Market sources believe that the reason for the relative calm in the Forex market today is waiting for investors for new developments in the political and security arena. Without additional operation, such as an escalation on the security front or another deterioration in political stability in Israel, there is currently no expectation in the market to unrest in foreign currencies. Foreign players, as the market analysts explain, explains political clarity before making additional deals.

“The market is very volatile, and it is difficult to form clear expectations for the place you will go now,” says Ronin Minatsem, chief economist at Mitzarahi Tivahot Bank, “Globes”. Menachem explains that the partial correction in the Sheekl exchange rate is not unusual, and it is “corresponding to the sharp increases recorded today on the local stock exchange and expected a positive opening in the Wall Street this evening.”

In the long run, most analysts expect to enhance the Israeli currency. The latest currency forecast published by the Goldman Sachs, “political and security developments are the focus of concentration – the end of the ceasefire in Gaza and the dismissal of the head of the betrayal, the local risk bonus again. However, we believe that there is a high possibility to measure local joints if local expectations of growth in the United States in the United States. 3.3/$ in the long term.

It was published by Globes, Israel Business News – En.globes.co.il – on March 24, 2025.

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