The shekel weakened to 3.05 per dollar on Friday, the highest level since April, according to financial reporter Yuval Shadeh, who cited the ongoing US-Iran escalation as the backdrop. The Bank of Israel's representative rate was fixed at 3.05 shekels.
At 15:01 Jerusalem, financial reporter Yuval Shadeh confirmed that the Bank of Israel's representative rate for the dollar was fixed at 3.05 shekels, the highest level since April. This confirmation comes after earlier reports on Friday: The Zioneer's bulletin at 14:58 Jerusalem also noted the shekel at 3.05 per dollar, citing the US-Iran escalation as the backdrop.
The Zioneer first reported on the shekel's weakness at 12:23 Jerusalem, when the TA-35 index fell 0.9% and the dollar reached 3.05 shekels. At the same time, the Bank of Israel's representative rate was fixed at 3.05 shekels, according to N12's Yuval Shadeh (versions 2 and 3). A subsequent version (version 4) cited the US-Iran escalation as the driver for the currency weakness. The 14:58 bulletin from The Zioneer then reiterated the same level. The current confirmation by Yuval Shadeh at 15:01 reinforces the rate and its context.
Attributed background: The shekel has been under pressure since the US-Iran escalation, as The Zioneer reported in recent weeks. On July 13, the dollar fixed at 3.025 shekels; on July 9, it fell to 3.032; on July 7, it rose to 3.029; on July 2, it crossed back above 3 shekels to 3.002; on June 26, the shekel weakened past 3.0; and on June 10, the dollar approached 3 shekels at 2.973. The current level of 3.05 is the highest since April, before the escalation began.
What remains open: No further details on the duration of the weakness or any intervention by the Bank of Israel. The situation remains fluid as the US-Iran confrontation continues.
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