Posted 4/3/2024, 9:36:19 AM
Shekel Weakens on Syria Worries and Widening Budget Gap
- Concerns about escalation on the Syrian front and a rising budget deficit over 8% are weakening the shekel
- The shekel fell 0.84% against the dollar and 1.06% against the euro in the last day
- The Bank of Israel set higher representative rates for shekel-dollar and shekel-euro yesterday
- A financial expert says shekel losses could ease due to Israeli companies buying shekels early this month
- The shekel's drop lowers chances of another rate cut by the central bank on Monday
