Markets

Israeli Shekel Falls to 8-year Lows Admist War with Hamas

Photo by Jorge Fernández Salas / Unsplash

The Bank of Israel have announced it will sell $30 billion of foreign currency to maintain stability, which on Monday, was able to do so. Israel Foreign Exchange reserves was measured at 198.4 USD in August 2023.

Israel has also secured funding from the US after Biden pledges 'unconditional support'.

GCC Central Banks Mirror US with 0.25 Percent Interest Rate Increase

On Wednesday, central banks in the Middle East (Saudi Arabia, UAE, Qatar, Bahrain) replicated the Fed's interest rate increase of 25 basis points to protect their currencie's peg against the US dollar says Ziad Daoud from Bloomberg.

Israeli Shekel Falls to 8-year Lows Admist War with Hamas

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GCC Central Banks Mirror US with 0.25 Percent Interest Rate Increase

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