Shekel weakens against dollar amid apparent inconclusive election result

Sharon Wrobel is a tech reporter for The Times of Israel

The shekel weakens against the US dollar after Israel’s inconclusive election result and amid political uncertainty over the establishment of the next government.

The shekel depreciates 0.7 percent to NIS 3.0765 per dollar in morning trading in Tel Aviv.

The local currency hit a three-week high on Tuesday as investors bet on a definitive outcome of the election that would remove political uncertainty and lead to the formation of stable coalition government.

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