Shekel Drops as USA Signal About Attack on Syria
The Israeli new shekel declined today as political tensions in Middle East escalated after the United States signaled about possible attack on Syria in case the Middle Eastern country uses chemical weapons.
The USA signaled about possible cruise missiles strike to deter Syria from using chemical weapon. The shekel dropped as investors avoided Israeli assets on concerns that potential conflict will involve Israel. The Bank of Israel kept interest rates unchanged yesterday.
USD/ILS went up from 3.6176 to 3.6540 as of 15:38 GMT today.
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Earlier News About the Israeli New Shekel:
- Bank of Israel Keeps Shekel Appreciation in Check (2013-06-04)
- Bank of Israel Surprises Again, Shekel Weakens (2013-05-27)
- Israeli New Shekel Mixed After Bank of Israel Cuts Interest Rates (2013-05-14)
- Bank of Israel Leaves Rates Unchanged, Shekel Flat (2013-02-26)
- Shekel Gains on Monetary Policy Outlook, Retreats (2012-08-24)