The Israeli currency - the shekel - has risen to a record high against the dollar.
Modern.az reports that in interbank trading, the Israeli currency has strengthened to 3.06 shekels per dollar. This is a level not seen in Israel for 30 years. The dollar last fell so sharply against the shekel in September 1995.
It is important to note that this refers specifically to the strengthening of the shekel, not the weakening of the dollar, as the currency has appreciated by 0.86% against the euro (even more than against the dollar) in the last 24 hours.
Although most observers attribute the current movement to "geopolitical" motives such as a ceasefire with Iran and the prospect of peace talks with Lebanon, in reality, there is no evidence that Israel's wars have had any impact on macroeconomic indicators, particularly the shekel's exchange rate.
