Israeli commentators claim the Israeli shekel is weakening as the IOF gets ready to invade Rafah; the shekel-dollar exchange rate is currently at NIS 3.7444, down from NIS 3.723 yesterday. From the indicative rate of NIS 3.9941/€ yesterday to NIS 4.0315/€ today, the shekel’s decline against the euro was more severe.
Israeli commentators claim the Israeli shekel is weakening as the IOF gets ready to invade Rafah
The escalating scenario coincides with “Israel’s” plans to attack Rafah and with the impasse in discussions between “Israel” and Hamas over a ceasefire agreement and the release of prisoners.
the shekel-dollar exchange rate is currently at NIS 3.7444, down from NIS 3.723 yesterday. From the indicative rate of NIS 3.9941/€ yesterday to NIS 4.0315/€ today, the shekel’s decline against the euro was more severe.
The escalating scenario coincides with “Israel’s” plans to attack Rafah and with the impasse in discussions between “Israel” and Hamas over a ceasefire agreement and the release of prisoners.
Since a single misstep might spark a regional conflict, Katz feels that the battlefront in Southern Lebanon poses a greater threat to the shekel.
Greater funds for greater issues?
Head markets analyst Ronen Menachem of Mizrahi Tefahot Bank asserts that further causes, “partly connected to reports about the Turkish boycott and its effects on the economy,” are behind the decline. He also notes that “the Houthis in Yemen have announced that they will step up their attacks.”
Menachem went on, “Tepid US employment data and a reassuring statement over the past few days have caused the US dollar to weaken globally.”
Jerome Powell, the chair of the US Federal Reserve, stated that interest rates in the US will not increase. This somewhat mitigates the shekel’s depreciation versus the dollar.”
When it came to funding its genocidal war in Gaza and its impact on the internal market, “Israel” was preparing to sell its first international bonds back in March.
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“Israel” has already issued multiple privately placed bonds in the dollar, euro, and yen since the war’s inception.
However, up to this point, the regime had avoided the public market.
The estimated value of the bond sale, according to Bloomberg, is between $4 billion and $6 billion, making it one of “Israel’s” biggest bond issuances to date.
The Israeli economy has suffered significantly as a result of the massacre in Gaza. The deployment of 300,000 reservists had an impact on a number of important economic sectors, including tourism, trade, and the tech sector.
Shekel, Palestine, Israel, Gaza, Rafael, and the economy
