The Israeli shekel strengthened against the dollar and euro in Thursday afternoon trading. The Bank of Israel fixed the representative dollar rate at 2.979 shekels, down 0.43%, while the euro fell 0.47% to settle at 3.377 shekels.
The shekel reversed its recent weakening trend Thursday, gaining ground against both the dollar and the euro in afternoon trading. The Bank of Israel's daily fixing put the dollar at 2.979 shekels, down 0.43% from the previous session, while the euro dropped 0.47% to 3.377 shekels. The recovery follows several sessions of depreciation that pushed the dollar close to the 3-shekel threshold earlier this week.
As The Zioneer reported on Tuesday (Jun 23, 15:35 Jerusalem), the dollar had climbed 0.84% to 2.991 shekels—the highest level in this reporting cycle—amid market unease over security developments. That came after a more gradual weakening trend: on Monday (Jun 22, 15:29 Jerusalem) the dollar rose 0.30% to 2.966 shekels in the first of three consecutive sessions of shekel weakness. The source quality has remained consistent throughout—all fixing rates are official Bank of Israel daily announcements, originally cited via N12 in the earliest version.
The broader context shows the shekel has been trading in a volatile range over the past three weeks. As The Zioneer reported on Jun 15, the shekel surged 1% against the dollar on expectations of a US-Iran deal, with the dollar fixing at 2.935 shekels. Since then, the dollar has risen more than 1.5% overall, reflecting persistent pressure on the local currency amid geopolitical uncertainty.
Thursday's fixing marks a notable pullback from the 3-shekel level, but the underlying drivers of the shift—whether intraday market dynamics, policy expectations, or specific news catalysts—were not detailed in the Bank of Israel's standard afternoon announcement. No further source context was available in this report.
2 developments
Source and signal
- Internal intake