Posted 10/16/2023, 6:47:20 PM
Shekel Drops to Lowest Level Since 2015 as Israel-Hamas Conflict Weighs on Economy
- Shekel drops to 4 against the dollar, weakest since 2015 as war with Hamas continues
- Bank of Israel announced plan to intervene in foreign exchange market to contain shekel volatility
- Consumer price index showed inflation slowed in September before Hamas attack
- Economists expect interest rate cut by Bank of Israel to ease economic burden of war
- Conflict expected to cause major damage to Israeli economy and growth prospects