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Shekel Plummets Amid Wall Street Decline and Gaza Conflict: What’s Next?

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The Israeli shekel faces a sharp decline against the dollar and euro due to Wall Street's downturn and ongoing tensions in Gaza. Explore the economic implications and potential recovery strategies.


The sharp decline in Wall Street yesterday has significantly impacted the Israeli shekel, leading to its depreciation against the dollar and euro amidst ongoing economic and political pressures. The situation is exacerbated by the war in Gaza and uncertainty in local governance.

Despite these challenges, there are potential supporting factors for the shekel's recovery, including new fiscal policies proposed by Finance Minister Bezalel Smotrich aimed at reducing the deficit target for 2025.

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Refs: | Aljazeera |

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