Each of the local and international market factors enhance the Israeli currency.
In the afternoon, Shekel traded sharply against the US dollar and the euro. The SHEKEL-Us exchange rate in dollars decreased by 0.90 % at 3.575/$, and the Shekel-Euro rate decreased by 1.57 %, at 4.031/€ NIS.
Yesterday, the Bank of Israel set the HEKEL-DOLLAR representative rate of 0.857 % from Tuesday, at 3.587/$ NIS, and the Shekel-Euro rate is 0.479 % at 4.077/€.
More major economists in the Investment Council Yutev Costica explains that the main reason for the boosting Shekel is an impressive recovery in the capital markets, especially Wall Street. “Investors priced a positive advertisement from Trump,” says “Globees”. “On Wednesday and Thursday, US President Donald Trump announced that he was expected to be briefed on a new trade deal, without providing details. Shekel.”
Besides the back wind of global markets, there are also local factors that affect the exchange rate. The CEO of Prico Group, Yossi Freeman, says that in the short term, shekels are expected to continue to reinforce against the dollar due to seasonal activity in the local market. “This week, wage payments are made in the economy, which leads to the fact that foreign currencies companies are required to transfer dollars into formations to pay salaries – a step that increases the demand for a shekel and supports its appreciation,” he explains.
It was published by Globes, Israel Business News – En.globes.co.il – on May 8, 2025.
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Shekel Credit: Shutterstock Vladirina 32
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