The shekel weakened further against major currencies in Tuesday afternoon trading. The Bank of Israel set the representative dollar rate at 2.991 shekels, up 0.84%, nearing the psychologically significant 3-shekel level. The euro rose 0.36% to a fixing of 3.411 shekels.
The shekel continued its recent slide against the dollar and euro in Tuesday afternoon trading, with the Bank of Israel’s representative dollar rate climbing 0.84% to 2.991 shekels — just shy of the 3-shekel threshold that last week had been briefly breached before retreating. The euro rose 0.36% to 3.411 shekels.
Since early June, the shekel has faced sustained pressure from the ongoing security escalation with Iran, geopolitical uncertainty, and market expectations regarding a potential US-Iran deal. The dollar has gained more than 1% in each of the past two trading sessions, accelerating from a rate near 2.94 shekels at the start of last week toward the 3-shekel psychological line. The current level is the weakest for the shekel against the dollar since mid-May.
No additional catalysts were cited in the afternoon fix, and the currency’s movement tracked broader dollar strength in global markets.
2 developments
- DevelopingShekel weakens as dollar jumps 1.2% to 2.943 shekels
- DevelopingShekel softens slightly; dollar and euro edge up in Tuesday fixing
- DevelopingShekel trades mixed against major currencies, dollar dips 0.17%
- StrongShekel strengthens as Bank of Israel fixes dollar at 2.907 after technical glitch fix
Source and signal
- Internal intake