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Israeli shekel hits 3-year low against the dollar

 
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The Israeli shekel (NIS) weakened even further on Tuesday, with some attributing the depreciation to the ongoing dispute over judicial reforms. The first of several proposals passed a first reading in the Knesset on Monday.

The exchange rate stood at 3.663 NIS per 1 USD at the end of the day.

The decline coincided with the Bank of Israel's decision to raise the interest rate to 4.25%.

The shekel has depreciated by 1.18% against the U.S. dollar over the last year and has now hit its lowest rate against the dollar in a three-year period.
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All Israel News Staff

The All Israel News Staff is a team of journalists in Israel.

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