The Israeli currency is moving towards a level not seen since the 1990s and the shekel continues to strengthen against the US dollar. Expectations of an improvement in the geopolitical situation, along with the weakness of the dollar on world markets are the two main trends supporting the Israeli currency’s appreciation. The Bank of Israel set the shekel-dollar exchange rate at NIS 3.1 per dollar, which is an appreciation of about 2 percent against the dollar since the start of 2026. The shekel has strengthened by about 23 percent against the US dollar since it traded at NIS 4.05 shekels to the dollar following the outbreak of the war in October 2023. David Rosenberg, economic columnist for Ha’aretz, explained the situation as well as the dark side of the strengthening shekel. (photo: Nati Shohat/flash90)

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