The Israeli shekel weakened against major currencies Monday as foreign exchange trading resumed after the weekend, with the Bank of Israel fixing the representative dollar rate at 3.025 shekels, up 0.63%, and the euro at 3.457 shekels, up 0.59%. The move comes amid the ongoing escalation between Iran and the US, according to reports.
The Israeli shekel weakened against the dollar and euro Monday as foreign exchange trading resumed after the weekend, with the Bank of Israel fixing the representative dollar rate at 3.025 shekels, up 0.63% from Friday's close, and the euro at 3.457 shekels, up 0.59%. The slide comes amid the ongoing escalation between Iran and the United States, which has weighed on the shekel in recent weeks. The dollar has repeatedly crossed the symbolic 3-shekel threshold, as The Zioneer has reported, with the shekel trading above that level on multiple occasions since late June. The current fixing is the highest since the dollar peaked at 3.032 shekels on July 9. No immediate comment from the Bank of Israel was reported.
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