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Tuesday, November 5, 2024

Home Business Israeli currency shekel shrinks to almost 8-year low

Israeli currency shekel shrinks to almost 8-year low

by News desk
October 10, 2023
in Business

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The Israeli shekel fell to an almost eight-year low against the US dollar on Monday as the conflict in the occupied territories escalated.

The shekel was last down more than 3% against the dollar at 3.9581, Reuters reported.

On Saturday morning, the Palestinian fighters launched a hybrid surprise operation outside Gaza after Israeli settlers stormed the Al-Aqsa Mosque compound in recent days and a record number of Palestinians were killed by Israel in recent months.

The Zionist regime has responded by pounding the besieged Gaza Strip after formally declaring war against the Palestinian Hamas group.— Tasnim