Shekel tumbles after IDF chief’s Iran remarks

May 26, 2023 | blog

Just because the foreign exchange markets started to calm after yesterday’s Bank of Israel fee hike, IDF Chief of Staff Lt. Gen. Herzi Halevi reignited it with feedback about Iran.

This afternoon, the Bank of Israel set the consultant shekel-dollar fee up 0.575% from Monday, at NIS 3.672/$, and the consultant shekel-euro fee was set 0.129% greater at NIS 3.958/€. Since then in after-hours buying and selling the shekel-dollar fee is up an extra 0.635% at 3.695/$ and the shekel-euro fee is up 0.571% at 3.980/€.

Yesterday Minister of Defense Yoav Gallant informed the Herzliya Conference concerning the Iranian Revolutionary Guard’s newest plans and the IDF Head of Military Intelligence General Aharon Haliva warned {that a} mistake by Hezbollah chief Hassan Nasrallah may result in struggle. Today Gen. Halevi chatting with the Herzliya Conference despatched a direct message to Iran. “There are negative developments on the horizon that could lead to action,” mentioned Halevi, mentioning that Iran is transferring ahead greater than ever in the direction of enriching uranium.

Estimates are that the Iranian regime is simply six months away from enriching uranium to 90% – a degree that would provide nuclear weapons. “Iran is 1,500 kilometers away,” mentioned Halevi. “The IDF knows how to fight in its back yard and we need to build capabilities.”

Following Halevi’s remarks the shekel started weakening sharply. A market dealer informed “Globes” that the shekel started tumbling after Halevi’s feedback had been translated to English and appeared in information stories, spooking traders.

Prico Risk Management, Finance and Investments CEO Yossi Fraiman informed “Globes, “Concerns about an unfolding occasion with Iran raises uncertainty and concern of a safety disaster.” He points out that the combination of fear in the US that the US debt talks have run aground added to the security concerns “Creates a really excessive demand for international foreign money from international traders.”

Published by Globes, Israel enterprise information – – on May 23, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

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