The exchange rate of the Israeli shekel rose against the dollar in early trading, today, Thursday, influenced by the announcement of reaching an agreement to end the war of genocide that Tel Aviv has been committing against the Palestinians in the Gaza Strip for more than 15 months.
Today’s official exchange rates in Israel showed that the shekel reached 3.598 against the dollar, up from 3.63 mid-session on Wednesday.
Financial markets in Israel hope that reaching an agreement to end the war on Gaza will be the beginning of restoring the momentum of the local currency and growth of the economy, after the budget recorded a deficit of $37 billion, or 6.9% of the gross domestic product, in 2024.
andIn the first month of the Israeli war on Gaza (October 2023), it retreated Shekel exchange rate Against the dollar, it reached its lowest level in 12 years, recording the level of 4.12 shekels per dollar.
In addition to the economic repercussions due to the Israeli war on Gaza, Tel Aviv witnessed the return of high inflation to local markets, reaching 3.2% last December, which prompted it to maintain high interest rates at 4.5%.
On Wednesday evening, Sheikh Mohammed bin Abdul Rahman Al Thani, the Qatari Prime Minister and Minister of Foreign Affairs, announced the success of the mediators in reaching an agreement to exchange prisoners and return to sustainable calm, leading to a permanent ceasefire in Gaza and an Israeli withdrawal from the Gaza Strip, pointing out that the agreement will begin its implementation next Sunday.
The announcement of the agreement came on the 467th day of the Israeli genocide in the Gaza Strip, which left more than 156,000 Palestinians martyred and wounded, most of them children and women, and more than 11,000 missing, amid massive destruction and famine that killed dozens of children and the elderly, in one of the worst humanitarian disasters in the world.
