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Israeli Shekel

All articles tagged with #israeli shekel

geopolitics2 years ago•3 min saved

War in the Middle East: Impact on Oil, Stocks, and Currencies

Oil prices surged while stock markets and the Israeli shekel fell as investors reacted to the war between Hamas and Israel. Escalating tensions in the oil-rich Middle East spooked investors, leading to a rise in oil prices. The Israeli shekel weakened to its worst level since 2016, prompting the central bank to sell foreign currencies to stabilize the currency. Global investors fear the conflict could spill over to the wider region and impact the fragile global economic recovery.

via CNN|

#geopolitics #hamas #israeli-shekel

economy2 years ago•1 min saved

Bank of Israel Sells $30 Billion in Foreign Reserves as Shekel Hits 8-Year Low

The Bank of Israel has announced plans to sell up to $30 billion in foreign reserves to support the Israeli shekel, which has weakened to its lowest level in seven years following the recent deadly incursion by Hamas militants. The central bank aims to moderate volatility in the shekel exchange rate and ensure the proper functioning of markets. In addition to the reserve sales, the bank will provide liquidity through SWAP mechanisms. The Israeli economy is expected to recover quickly unless there is a physical attack by Iran, according to Zvi Eckstein, former deputy governor at the Bank of Israel.

via CNBC|

#bank-of-israel #currency-exchange-rate #economy