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ISRAEL AT WAR - DAY 340

New Israeli Shekel

View of the Bank of Israel's main offices in Jerusalem, January 2, 2023. (Yonatan Sindel/Flash90)
July 10, 2024, 7:36 pm
Israel holding off on digital shekel until other advanced economies launch currencies
Currency innovation still being researched; convincing public to adopt it could streamline payments system, puncture Israel’s banking duopoly, says BOI deputy governor
By Steven Scheer
Illustrative: View of the Tel Aviv Stock Exchange, November 29, 2020. (Miriam Alster/Flash90)
July 2, 2024, 4:25 pm
Israel’s economy seems to be doing okay, but is everything as it seems?
How Israel’s war in Gaza has affected employment, quality of life, and private and public spending, and how this is expressed in the data
By Tani Goldstein
The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)
April 30, 2024, 5:48 pm
Israeli shares rise and shekel gains as investors watch truce, hostage deal efforts
Analysts expect further strengthening of the shekel amid talks for a lengthy ceasefire in the Gaza Strip that would also help calm tensions along the northern border with Lebanon
By Sharon Wrobel
Illustrative: The Tel Aviv Stock Exchange. November 29, 2020. (Miriam Alster/ FLASH90/ File)
March 12, 2024, 12:24 pm
Market optimism: Despite war uncertainty, Israeli stocks and shekel attract investors
Even as Gaza conflict continues into its 6th month, investors flock to buy local assets seen as cheap relative to those in global markets amid hopes for postwar recovery
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, on January 7, 2019. (Noam Revkin Fenton/Flash90)
November 7, 2023, 6:49 pm
Bank of Israel sold $8.2 billion since war started to protect shekel from collapse
Foreign reserves fall to lowest level in a year after central bank’s currency interventions in October, helping shekel to recover all of its war losses
By Sharon Wrobel
Dollars and shekels. (Olivier Fitoussi/Flash90)
October 31, 2023, 5:54 pm
Shekel strengthens as investor fears over war escalation to the north ease
As Israel widens Gaza ground offensive against Hamas, market expects fighting will be limited to the south; last week shekel hit weakest level in 11 years
By Sharon Wrobel
Tables and chairs at a restaurant that has closed in Sderot, Oct. 25, 2023 (AP Photo/Maya Alleruzzo)
October 31, 2023, 12:17 pm
Israel’s economy bounced back after previous Hamas wars, but this one may take longer
A protracted conflict, potentially expanding to multiple fronts, could cause even more damage to an economy already battered by the controversial planned legal overhaul
By AP and ToI Staff
Illustrative: New Israeli shekel bills, September 24, 2023. (Hadar Youavian/Flash90)
October 4, 2023, 1:28 pm
Shekel tumbles to 7-year-low of 3.87 against the dollar
Stocks also fall, as ex-finance minister Liberman blasts Netanyahu, Smotrich and Knesset finance panel chair for ignoring warnings of economic downturn
By ToI Staff
In this August 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew)
September 9, 2023, 6:10 pm
JPMorgan warns weakened shekel may be long-term trend as it decouples from US stocks
Leading US financial institution says it has ‘a bearish bias’ toward Israeli currency, warns ‘political risk is likely to remain elevated’ over government’s judicial overhaul
By ToI Staff
The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)
September 7, 2023, 7:14 pm
Fears of constitutional crisis drive shekel to three-year low
Local currency weakens to 3.85 against US dollar as hopes for a judicial compromise fade, increasing odds for FX intervention, and as Moody’s meets with PM in Israel
By Sharon Wrobel
Israelis protest against the judicial overhaul, outside Economy Minister Nir Barkat's home in Jerusalem, July 6, 2023. (Noam Revkin Fenton/Flash90)
August 22, 2023, 12:22 am
Fitch sees ‘watered down’ judicial overhaul not having doomsday effect on economy
Credit rating agency upheld Israel’s A+ rating, lead analyst explains, with belief that overhaul won’t be implemented in original form and confidence in resilient economy
By Sharon Wrobel
Dollars and shekels. (Olivier Fitoussi/Flash90)
August 15, 2023, 8:13 pm
Shekel slides to lowest rate in three years against US dollar
Exchange rate hits NIS 3.77 before settling at NIS 3.763, up more than 1% over the day before; euro also makes gains
By ToI Staff
A protester stands in front of a police water cannon being used to disperse demonstrators blocking a road during a protest against moves by Prime Minister Benjamin Netanyahu's government to overhaul the judicial system, in Jerusalem, July 24, 2023. (AP/Ariel Schalit)
July 25, 2023, 9:11 pm
Moody’s after overhaul law: Israel faces negative economic fallout, significant risk
Morgan Stanley cuts Israel sovereign credit to ‘dislike stance’; Citi cautions investors about ‘constitutional crisis’ scenario over legislation approved despite lack of consensus
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem on January 2, 2022. (Yonatan Sindel/Flash90)
July 10, 2023, 8:44 pm
Bank of Israel holds rates for now, warns about judicial risk to economy
Central bank governor Amir Yaron calls on lawmakers to ensure legislative changes will be carried out in broad agreement, and will uphold strength and independence of institutions
By Sharon Wrobel
A sign for Moody's Corp. in New York, August 13, 2010. (AP Photo/ Mark Lennihan/ File)
April 16, 2023, 4:30 pm
Dismissing Moody’s downgrade, Smotrich says any economic damage is fault of protests
Outgoing securities chief: ‘Ignoring risks undermines confidence in Israeli market’; economist warns: Israel set to be on investors’ and credit rating agencies’ ‘watch list’
By Sharon Wrobel
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