Shekel Surge Amidst Escalating Middle East Tensions
The Israeli shekel surged as investors assessed the impact of Israel's intensified conflict with Iran. The currency gained 3.6% against the dollar, marking its strongest performance since early October 2023. Israeli stocks and bonds also rose, as markets adjusted to potential long-term geopolitical changes in the Middle East.
On Monday, the Israeli shekel experienced a significant rise in value, alongside gains in the nation's stocks and bonds. Investors are now evaluating the long-term risks associated with Israel's ongoing conflict with Iran.
The currency strengthened to 3.50 per dollar, marking a 3.6% increase, its most substantial improvement since October 9, 2023, following central bank intervention during the Gaza war's onset.
Meanwhile, Tel Aviv's share indices climbed, and Middle East tensions remain high due to Israel's military actions against Iran, which have prompted retaliatory strikes. The conflict's developments have influenced both local markets and Israel's geopolitical risk assessment.
(With inputs from agencies.)
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