The exchange rate of the Israeli shekel declined in morning trading on Monday, October 9, 2023, reaching its lowest levels against the dollar since 2016, influenced by the "Al-Aqsa Flood" operation launched by Palestinian resistance on Saturday morning. The "Bank of Israel" announced in a statement that it would sell up to $30 billion to the markets to stabilize the shekel's exchange rate against the fluctuations caused by the war. The shekel's decline follows a day after the Tel Aviv Stock Exchange dropped by 8.04% in its first session of the week on Sunday, amidst the impact on insurance, investment, construction, and banking sectors. The exchange rate of the shekel in morning trading was at 3.93 shekels per dollar, while it had broken the level of 3.95 shekels in early Asian trading.
Shekel at Its Lowest Levels Since 2016
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