Israeli Shekel at almost 8-year low: Bank of Israel to sell $30 bn of forex to stabilise shekel amidst war

The shekel had already weakened by 10% in 2023 due to political instability. Given the expected duration of the conflict with Hamas in Gaza, further depreciation of the shekel was anticipated.

Oct 9, 2023 - 23:30
Israeli Shekel at almost 8-year low: Bank of Israel to sell $30 bn of forex to stabilise shekel amidst war
The shekel had already weakened by 10% in 2023 due to political instability. Given the expected duration of the conflict with Hamas in Gaza, further depreciation of the shekel was anticipated.