Shekel is sharply acquired in the afternoon, the bank traded before President Trump’s meeting at 6 pm Israeli time with Prime Minister Benjamin Netanyahu, where he will present his ceasefire plan in Gaza. Shekel is 0.71 % less against the dollar at 3.321/$, and 0.81 % lower against the euro at 3.887/€.
Yesterday, the Bank of Israel set the representative Shekel-Dollar average, a decrease of 0.293 from Friday, at 3.404/$ NIS, and the Shekel-Euro rate is 0.962 % at 3.936/€.
IDit Moskovich, director of the International Trading Chamber of the Bank Idit Moskovich, mentions three main reasons for reinforcing Shekel today. “The main reason is related to positive developments regarding the comprehensive ceasefire in Gaza and the return of the hostages,” she says.
You add two other reasons. “The US market gains during the weekend also have an impact. As was the case recently, the link is maintained. When American markets rise, they strengthen a shekel.” The interpretation of this lies in the behavior of institutional investors who need to sell dollars to balance their exposure to the foreign exchange.
Masskovic continues, “The positive macroeconomic statements were published in Israel in July. The Book of Israel’s complex indicates that about 5 % in the third quarter, after a decrease in about 4 % in the second quarter. In addition, industrial production in July increased by about 5 % compared to the average first quarter.”
Unrealized risks
On the effect of Trump-Nahu’s meeting on the market, Moskovic says: “If there are positive developments, we will continue to see a shekel strengthening, and it may test the 3.295/$ that he did not touch in July and mid-August. This point constitutes a rate of support for the rate.”
The investment office, the chief investment office of the MOR, also stresses a direct link between the behavior of the market and the events in Washington: “The Israeli stock market is still the rotating ship that reflects the geopolitical events, from the decreases after the Sparta speech in Netanyahu is on the growing networks.
In his evaluation, “the agreement will push the local stock market forward to new levels and support for Shekel, but we have to wait to see if this will actually happen this time. If we do not see an agreement, we must bear in mind that the risks to the Israeli market will increase due to prices at the present time.”
It was published by Globes, Israel Business News – En.globes.co.il – on September 29, 2025.
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